Document:

exv4w3

 

Exhibit 4.3

IRREVOCABLE PROXY

     This Irrevocable Proxy (the “Proxy”) is made by the undersigned
(“Shareholder”) in connection with that certain Stock Repurchase Agreement, dated as of
October 22, 1982, by and between Shareholder and AeroVironment, Inc., a California corporation (the
“Company”), as amended from time to time (as amended, the “Agreement”).

     The undersigned, as owner of 23,625 shares of common stock of the Company (the
“Shares”) hereby revokes all previous proxies and appoints Paul B. MacCready, (or if such
person ceases to be the Chairman of the Board of Directors (the “Chairman”) of the Company, any
person who is thereafter appointed as Chairman or, if there is no Chairman, the Board designated
officer of the Company), as proxy holder to attend and vote all Shares at any and all meetings of
the shareholders of the Company, and any adjournments thereof, held on or after the date of the
giving of this Proxy and to execute any and all written consents of shareholders of the Company
executed on or after the date of the giving of this Proxy and prior to the termination of this
Proxy, with the same effect as if the Shareholder had personally attended the meeting or had
personally voted the Shares or had personally signed the written consent.

     The undersigned authorizes and directs the proxy holder to file this Proxy appointment with
the Secretary of the Company and authorizes the Company to substitute another person as proxy
holder (so long as such person is the Chairman or CEO of the Company) and to file the substitution
instrument with the Secretary of the Company.

     This Proxy is irrevocable pursuant to Section 705(e) of the California Corporations Code until
the earlier of (i) April 30, 2005, (ii) the effective date of the registration statement pertaining
to the Company’s firm commitment underwritten public offering of its common stock under the
Securities Act of 1933, as amended, or (iii) the occurrence of a liquidity event as determined by
the Board of Directors of the Company.

	 	 	 	 	 
	 	 	 
	Dated: October 30, 2000 	/s/ W. Ray Morgan
 	 
	 	W. Ray Morgan, Shareholderexv4w4

 

	 	 	 	 	 

Exhibit 4.4

PROXY

for

COMMON STOCK OF AEROVIRONMENT, INC.

The
undersigned hereby appoints Paul B. MacCready as the Proxy of the undersigned to attend and
vote at all shareholder meetings or to take any other action authorized by a shareholder on behalf
of the undersigned.

This Proxy shall be effective until revoked in written form by the undersigned.

	 	 	 
	1/8/93

	 	/s/ Marshall MacCready
	 

	 	 
	Date

	 	Marshall MacCready

NUMBER OF SHARES OF COMMON STOCK: –2,850–exv4w5

 

Exhibit 4.5

PROXY

for

COMMON STOCK OF AEROVIRONMENT, INC.

The undersigned hereby appoints Paul B. MacCready as the Proxy of the undersigned to attend and
vote at all shareholder meetings or to take any other action authorized by a shareholder on behalf
of the undersigned.

This Proxy shall be effective until revoked in written form by the undersigned.

	 	 	 
	1/14/93

	 	/s/ Tyler MacCready
	 

	 	 
	Date

	 	Tyler MacCready

NUMBER OF SHARES OF COMMON STOCK –2,850–exv4w6

 

Exhibit 4.6

PROXY

for

COMMON STOCK OF AEROVIRONMENT, INC.

The undersigned hereby appoints Paul B. MacCready as the Proxy of the undersigned to attend and
vote at all shareholder meetings or to take any other action authorized by a shareholder on behalf
of the undersigned.

This Proxy shall be effective until revoked in written form by the undersigned.

	 	 	 
	1/14/93

	 	/s/ Parker MacCready
	 

	 	 
	Date

	 	Parker MacCready

NUMBER OF SHARES OF COMMON STOCK –2,850–exv10w2

 

EXHIBIT 10.2

AEROVIRONMENT, INC.

NONQUALIFIED STOCK OPTION PLAN

1. PURPOSE:

     The purpose of this Nonqualified Stock Option Plan (hereinafter referred to as the “Plan”) is
to provide a means whereby key employees of AeroVironment, Inc. (hereinafter referred to as the
“Company”), or any parent or subsidiary thereof, may be given an opportunity to purchase stock in
the Company by grant of options which are intended to constitute nonqualified stock options. The
underlying objectives which the Plan seeks to accomplish are to retain the services of key
employees of the Company and its subsidiaries and to grant to such employees an opportunity to
acquire proprietary interests in the business and thereby provide an added incentive to increase
the Company’s earnings.

2. ADMINISTRATION:

     This Plan shall be administered by the Board of Directors of the Company. Subject to the
express provisions of the Plan, the Board of Directors shall have the authority to construe and
interpret the Plan and to define the terms used herein, to prescribe, amend and rescind rules and
regulations relating to the administration of the Plan, to determine the duration and purpose of
leaves of absence which may be granted to participants without constituting a termination of their
employment for the purposes of the Plan, to grant the options and to make all other determinations
necessary or desirable for the administration of the Plan. The Board of Directors may insert into
any options granted under this Plan any other terms, provisions, and conditions not inconsistent
with the Plan as may be determined by the Board of Directors. Specifically, the Board of Directors
may, among other things, provide any or all Nonqualified Stock Option Agreements pursuant to which
options are granted under this Plan that the Company’s stock to be

 

 

received upon the exercise of the option will be subject to a Stock Repurchase Agreement,
which Stock Repurchase Agreement the Company may require any grantee under this Plan to execute and
be bound by as a condition for receiving the Company’s stock pursuant to the exercise of options
granted under this Plan. The determination of the Board of Directors on the matters referred to in
this Section 2 shall be conclusive.

     The Board of Directors may appoint a committee consisting of not less than three Directors who
shall serve at the pleasure of the Board of Directors to administer the Plan. Such committee shall
have all or such part of the authority of the Board of Directors with respect to the Plan as
provided in the resolution establishing the committee or in resolutions adopted from time to time
thereafter. If such a committee is established, references herein to the Board of Directors shall
be deemed to mean such committee to the extent appropriate in light of the authority of such
committee.

3. STOCK SUBJECT TO THE PLAN:

     The stock to be offered under the Plan shall be shares of the Company’s authorized but
unissued capital stock or any shares of authorized but unissued stock into which such shares are
changed, reclassified or converted. Subject to adjustment as provided in Section 14 hereof, the
aggregate number of shares to be delivered upon exercise of all options granted under the Plan may
not exceed thirty thousand (30,000).

     If any option shall expire or terminate for any reason without having been exercise in full,
the unpurchased shares subject thereto shall revert to the Plan and again be available for the
purposes of the Plan.

     It is the intention in establishing this Plan that options shall be granted to allow the
purchase of stock at an amount substantially equivalent to the fair market value of the stock as of
the date of the grant of the option. The Board of Directors shall have discretion to determine

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what constitutes fair market value of the stock of the corporation as of the date of exercise
of options under this Plan, and whether options should, if ever, be issued at an exercise price
less than fair market value at the date of grant of the option.

4. OBLIGATION OF COMPANY TO ISSUE SHARES:

     The Plan, and the grant and exercise of options thereunder, and the Company’s obligation to
sell and deliver stock under such options, shall be subject to all applicable federal and state
laws, rules and regulations and to such approvals by any regulatory agencies as may be required or
advisable. In no event shall the Company be required to issue fractional shares upon the exercise
of an option. This Plan is intended to serve as a discretionary plan exercisable by the Board of
Directors to allow the grant of options to certain key employees. The adoption of this Plan shall
not imply any obligation or undertaking of any nature on the part of the Company to issue options
other than as determined in the discretion of the Board of Directors of the Company.

5. ELIGIBILITY:

     Officers and other key employees of the Company or of any parent or subsidiary corporation (as
that term is defined in Section 425 of the Internal Revenue Code of 1954, as amended) shall be
eligible for selection to participate in the Plan. No key employee shall be disqualified to
receive such an option merely because he is already a shareholder of the Company nor merely because
he is a member of the Board of Directors of the Company. The Board of Directors shall determine
the individuals to whom options shall be granted, the terms and provisions of the respective option
agreements (which need not be identical), the time at which such options shall be granted, and the
number of shares subject to each option, and the Board of Directors shall grant such options. An
individual who has been granted an option may,

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if he is otherwise eligible, be granted an additional option or options if the Board of
Directors shall so determine.

6. OPTION PRICE:

     The option price per share of stock purchasable under options granted pursuant to the Plan
shall be determined by the Board of Directors. It is intended that options will in most instances
be issued at a price not less than one hundred percent (100%) of the fair market value of the
common stock of the Company on the day the option is granted. For the purposes hereof, the fair
market value of the Company’s common stock shall be determined in good faith by the Board of
Directors each time an option is granted hereunder, acting upon such information and advice as it
shall deem necessary, which determination shall be conclusive. The Board of Directors may,
however, in their discretion, grant options at an exercise price greater or lesser than fair market
value of the common stock at the date of grant.

7. OPTION PERIOD:

     Each option, and all rights and obligations thereunder, by its terms, shall expire on such
date as the Board of Directors may determine.

8. CONTINUATION OF EMPLOYMENT:

     Nothing contained in the Plan (or in any option granted pursuant to the Plan) shall confer
upon any employee any right to continue in the employ of the Company or any parent or subsidiary
corporation or interfere in any way with the right of the Company or any parent or subsidiary
corporation to terminate his employment at any time or to increase or decrease his compensation
from the rate in existence at the time of the granting of an option, and nothing contained herein
or in any option agreement shall affect any contractual rights of an employee.

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9. EXERCISE OF OPTIONS:

     Each option shall be exercisable, and the total number of shares subject thereto shall be
purchasable, in such installments, which need not be equal, as the Board of Directors shall
determine. Except as otherwise provided for by the Board of Directors on the grant of the option,
any option granted hereunder shall be exercisable in five equal annual installments, commencing one
year after the date of the grant of the option. No option or installment thereof shall be
exercisable except in respect of whole shares, and fractional share interests shall be disregarded.
Not less than ten shares may be purchased at any one time unless the number purchased is the total
number at the time available for purchase under the option.

     Options may be exercised only by written notice to the Company, stating the number of shares
being purchased and accompanied by payment in full of the option price for the number of shares
being purchased by (1) cash, (2) check, (3) stock of the Company whose fair market value is at
least equal to the aggregate exercise price under the option, or (4) such other consideration as
the Board may approve at the time the option is granted, so long as the fair market value of such
consideration is no less than the applicable exercise price for purchase of the stock.

10. NON-TRANSFERABILITY OF OPTIONS:

     Options granted under the Plan shall, by their terms, be non-transferable by the option holder
other than by will or the laws of descent and distribution, and shall be exercisable during his
lifetime only by him.

11. TERMINATION OF EMPLOYMENT:

     If the option holder ceases to be employed by the Company or any parent or subsidiary
corporation for any reason other than his death or disability, his option shall, subject to earlier
termination pursuant to Section 7, expire three months thereafter (or after such shorter period as
may be provided in the option), and during such period after he ceases to be an employee such

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option shall be exercisable only as to that number of shares which the option holder could
have purchased as of the date of such termination of employment.

12. DEATH OR DISABILITY OF EMPLOYEE:

     If any option holder dies or becomes disabled within the meaning of Section 105(d)(4) of the
Internal Revenue Code of 1986, as amended, while he is employed by the Company or any parent or
subsidiary, or during the three month period after termination referred to in Section 11 hereof,
his option shall, subject to earlier termination pursuant to Section 7, expire one year after the
option holder ceases to be an employee of the Company (or after such shorter period as may be
provided in the option). During such one year period the option holder, or if the option holder
has died the person or persons to whom the option holder’s rights under the option have passed by
will or by the applicable laws of descent and distribution, may, to the extent of the number of
shares exercisable as of the date of the termination of his employment, exercise such option.

13. ADJUSTMENTS UPON CHANGES IN CAPITALIZATION:

     If the outstanding shares of the stock of the Company are increased, decreased, or changed
into, or exchanged for a different number or kind of shares of securities of the Company through
reorganization, merger, recapitalization, reclassification, stock split-up, stock dividend, stock
consolidation or otherwise, an appropriate and proportionate adjustment shall be made in the number
and kind of shares as to which options may be granted. A corresponding adjustment changing the
number or kind of shares and the exercise price per share allocated to unexercised options or
portions thereof, which options shall have been granted prior to any such change, shall likewise be
made. Any such adjustment, however, in an outstanding option, shall be made without change in the
total price applicable to the unexercised portion of the option but with a corresponding adjustment
in the price for each share covered by the option.

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     Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or
consolidation of the Company with one or more corporations as a result of which the Company
transfers substantially all of the property of the Company to another corporation, the Plan shall
terminate, and any option theretofore granted hereunder shall terminate, unless, in connection with
such transaction, the Company provides for the substitution of options, as defined below. In the
event that provision is not made for the substitution of options in connection with a
reorganization, merger or consolidation in which the Company is not the surviving company, or a
sale of substantially all of the Company’s assets, option holders shall have the right, immediately
prior to or concurrently with such transaction, to exercise any unexpired option rights granted
hereunder to the full extent theretofore not exercised and regardless of any installment provisions
for the exercise of such option rights which may be provided in any stock option agreement entered
into hereunder, but in any event subject to the expiration date of the option under the option
agreement. The phrase “provides for the substitution of options” as used in this paragraph shall
mean either the issuance of a new option or the assumption of the Company’s option by the surviving
corporation or its parent or subsidiary in such form and on such terms and conditions that the
substituted option shall meet the requirements of Section 425 of the Internal Revenue Code of 1986,
as amended; and the phrase “parent or subsidiary” shall have the meaning assigned in said Section
425. A substituted option shall not be less favorable to the option holder than his prior option.

     Adjustments under this Section 13 shall be made by the Board of Directors of the Company,
whose determination as to what adjustments shall be made, and the extent thereof, shall be final,
binding and conclusive. No fractional shares of stock shall be issued under the Plan on account of
any such adjustment.

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14. AMENDMENT AND TERMINATION:

     This Plan shall expire on the tenth (10th) anniversary of the date of its execution. The
Board of Directors of the Company may at any time suspend, amend or terminate the Plan without
further action on the part of the stockholders of the Company, provided that, except as set forth
in Section 13 above, no amendment may be adopted without further approval of the stockholders of
the Company which will:

     (a) increase the number of shares which are to be reserved for options under the Plan;

     (b) decrease the minimum option price;

     (c) extend the maximum term of an option;

     (d) change the designation of the class of employees eligible to receive options.

     In the event the Plan is terminated by the Board of Directors or is terminated by expiration
of its term as specified above, no option may be granted after such termination. The amendment or
termination of the Plan shall not, without the consent of the option holder, affect the option
holder’s rights under an option theretofore granted to him.

15. TIME OF GRANTING OF OPTIONS:

     The granting of an option pursuant to the Plan shall take place at the time of the Board of
Directors’ action, as described herein; provided, however, that if the appropriate resolutions of
the Board of Directors indicate that an option is to be granted as of and at some future date, the
date of grant shall be such future date.

16. PRIVILEGES OF STOCK OWNERSHIP; PURCHASE FOR INVESTMENT:

     The holder of an option shall not be entitled to the privilege of stock ownership as to any
shares of stock not actually issued and delivered to him. Upon the exercise of an option, unless

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there is in effect at that time under the Securities Act of 1933 a registration statement
relating to the stock issuable upon exercise thereof and available for delivery to him a prospectus
meeting the requirements of Section 10(a) of said Act, the option holder shall, if requested by the
Company, represent and warrant in writing, in form and substance satisfactory to the Company, that
the shares purchased are being acquired for investment and without any view to the distribution
thereof and shall agree in writing to the imposition of legends on the stock certificates setting
forth any restrictions upon disposition under applicable securities laws. No shares shall be
purchased upon the exercise of any option unless and until any then applicable requirements of the
Securities and Exchange Commission, the California Commissioner of Corporations, or other
regulatory agencies having jurisdiction, and of any securities exchanges upon which stock of the
Company may be listed, shall have been fully complied with.

17. EFFECTIVE DATE OF THE PLAN:

     This Plan shall become effective and options may be granted hereunder upon its adoption by the
Company’s Board of Directors. This Plan may be submitted for approval to the stock-holders of the
Company at any time before or after its adoption by the Board of Directors. Notwithstanding any
such approvals, however, this Plan shall not be effective until such time as a permit authorizing
its implementation has been obtained from the California Commissioner of Corporations.

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