Document:

rtec-ex102_356.htm

Exhibit 10.2

 

 

 

Rudolph Technologies, Inc.

 

Employee Stock Option Agreement

 

 

THIS AGREEMENT, dated , 20(the “Grant Date”), is made between Rudolph Technologies, Inc., a Delaware corporation, hereinafter referred to as the “Company,” and(the “Optionee”).

1.Definitions. All capitalized terms used in this Agreement without definition shall have the meanings ascribed in Company’s 2018 Stock Plan, as amended from time to time (the “Plan”).

	
 
	
2.
	
Notice of Stock Option Grant.

	
(a)
	
Grant. You have been granted an option to purchase Common Stock of Company, subject to the terms and conditions of the Plan and this Option Agreement, as specified in Attachment I – Notice of Grant hereto (the “Notice of Grant”).
	
 

	
(b)
	
Vesting Schedule. Subject to accelerated vesting as set forth below, this Option may be exercised, in whole or in part, in accordance with the schedule detailed in the Notice of Grant.
	
 

(c)Termination Period. This Option may be exercised for three (3) months after Optionee ceases to be a Service Provider. Upon the death or Disability of Optionee, this Option may be exercised for twelve (12) months after Optionee ceases to be a Service Provider. In no event shall this Option be exercised later than the Term/Expiration Date as provided above.

	
 
	
3.
	
Agreement.

	
(a)
	
Grant of Option. The Plan Administrator of Company hereby grants to Optionee an option (the “Option”) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”), subject to the terms and conditions of the Plan, which is incorporated herein by reference (the “Grant”). Subject to Section 14(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail.
	
 

If designated in the Notice of Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option (“NSO”).

	
 
	
(b)
	
Exercise of Option.

(i)Right to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option Agreement.

(ii)Method of Exercise. This Option is exercisable by delivery of an exercise notice, in the form established by Company from time-to-time (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed  by Optionee and delivered to the Chief Financial Officer of Company.  The Exercise Notice shall be accompanied by  payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price.

No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with Applicable Laws. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to Optionee on the date the Option is exercised with respect to such Exercised Shares.

	
(c)
	
Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of Optionee:
	
 

 

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Std. Employee Stock Option Agreement - Rev. 05/18
 

	
 
	
(i)
	
in cash or by personal check, certified check or bank check or wire transfer of immediately available funds;

 

	
 
	
(ii)
	
other Shares provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option is exercised, provided that accepting such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion;
	
 

 

	
 
	
(iii)
	
by delivery of a properly executed exercise notice together with any other documentation  as  the Administrator and the Participant’s broker, if applicable, require to effect an exercise of the Option and delivery to the Company of the sale or other proceeds (as permitted by Applicable Law) required to pay the exercise price;
	
 

 

	
 
	
(iv)
	
by withholding Shares otherwise issuable in connection with the exercise of the Option (“net exercise”); or

 

	
 
	
(v)
	
such other consideration and method of payment authorized by the Administrator in its discretion or  permitted by the Award Agreement, the Plan and Applicable Law.
	
 

 

	
(d)
	
Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Optionee.
	
 

	
(e)
	
Term of Option. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.
	
 

	
(f)
	
Tax Consequences. Some of the federal tax consequences relating to this Option, as of the date of this Option, are set forth below. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.
	
 

	
 
	
(g)
	
Exercising the Option.

(i)Nonstatutory Stock Option. Optionee may incur regular federal income tax liability upon exercise of a NSO. Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess,  if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price. If Optionee is an Employee or a former Employee, Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

(ii)Incentive Stock Option. If this Option qualifies as an ISO, Optionee will have no regular federal income tax liability upon its exercise, although the excess, if any, of the Fair Market Value of the Exercised Shares on the date  of exercise over their aggregate Exercise Price will be treated as an adjustment to alternative minimum taxable income for federal tax purposes and may subject Optionee to alternative minimum tax in the year of exercise. In the event that Optionee ceases to be an Employee but remains a Service Provider, any Incentive Stock Option of Optionee that remains unexercised shall cease to qualify as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option on the date three (3) months and one (1) day following such change of status.

	
 
	
(iii)
	
Disposition of Shares.

(A)NSO. If Optionee holds NSO Shares for at least one (1) year, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes.

(B)ISO. If Optionee holds ISO Shares for at least one (1) year after exercise and two (2) years after the grant date, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. If Optionee disposes of ISO Shares within one (1) year after exercise or two (2) years after the grant date, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the lesser of (A) the difference between the Fair Market Value of the Shares acquired on the date of exercise and the aggregate Exercise Price, or (B) the difference between the sale price of such Shares and the aggregate Exercise Price. Any additional gain will be taxed as capital gain, short-term or long-term depending on the period that the ISO Shares were held.

 

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(iv)Notice of Disqualifying Disposition of ISO Shares. If Optionee sells or otherwise disposes of any of the Shares acquired pursuant to an ISO on or before the later of (i) two (2) years after the grant date, or (ii) one (1) year after the exercise date, Optionee shall immediately notify Company in writing of such disposition. Optionee agrees that he or she may be subject to income tax withholding by Company on the compensation income recognized from such early disposition of ISO Shares by payment in cash or out of the current earnings paid to Optionee.

	
(h)
	
Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of Company and Optionee with respect to the subject matter hereof, and may not be modified adversely to Optionee's interest except by means of a writing signed by Company and Optionee. This Option Agreement is governed by the internal substantive laws, but not the choice of law rules, of Delaware.
	
 

(i)Conformity to Securities Laws. Optionee acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act of 1933, as amended, and the Exchange Act, and any and all regulations and rules promulgated thereunder by the Securities and Exchange Commission, including without limitation Rule 16b-3 under the Exchange Act. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Grants are granted, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.

	
(j)
	
NO GUARANTEE OF CONTINUED SERVICE. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH OPTIONEE'S RIGHT OR COMPANY'S RIGHT TO TERMINATE OPTIONEE'S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.
	
 

	
(k)
	
Notices. Notices required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States mail by certified mail, with postage and fees prepaid, addressed  to Optionee to his/her address shown in Company records, and to Company at its principal executive office.
	
 

 

 

By your signature and the signature of Company's representative below, you and Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement. Optionee has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement and fully understands all provisions of the Plan and Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Option Agreement. Optionee further agrees to notify Company upon any change in the residence address indicated below.

 

OPTIONEE:RUDOLPH TECHNOLOGIES, INC.

 

SignatureBy

Print NameTitle

 

Residence Address

 

CONSENT OF SPOUSE

 

The undersigned spouse of Optionee has read and hereby approves the terms and conditions of the Plan and this Option Agreement. In consideration of Company's granting his or her spouse the right to purchase Shares as set forth in the Plan and this Option Agreement, the undersigned hereby agrees to be irrevocably bound by the terms and conditions of the Plan and this Option Agreement and further agrees that any community property interest shall be similarly bound.      The undersigned

 

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Std. Employee Stock Option Agreement - Rev. 05/18
 

hereby appoints the undersigned's spouse as attorney-in-fact for the undersigned with respect to any amendment or exercise of rights under the Plan or this Option Agreement.

 

Spouse of Optionee

 

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Std. Employee Stock Option Agreement - Rev. 05/18
 

ATTACHMENT I

NOTICE OF GRANT

 

OPTIONEE INFORMATION:

 

 

Optionee Name:  

 

Optionee Residence Address:«STREET1»

«STREET2»

«CITY», «STATE» «ZIP»

«COUNTRY»

 

 

Optionee Section 16 Status:Optioneeisis nota Section 16 Insider of Company.

 

 

GRANT INFORMATION:

 

 

Grant Date: Grant Number:  

 

Aggregate number of Stock Options subject to the Grant:  

 

Exercise Price per Share:   

 

Type of Option:Nonstatutory Stock OptionIncentive Stock Option

 

 

Vesting Commencement Date: Term/Expiration Date:  

 

 

Vesting Schedule:

The Options shall vest with respect to twenty percent (20%) of the Options subject to the Grant (rounded down to the next whole number of shares) on each of the first five (5) anniversaries of the Grant Date.

 

The Options shall vest with respect to  

 

 

Additional Vesting Requirements:

 

 

 

Company Stock Plan Administration Service (the “Stock Service”):   

 

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Std. Employee Stock Option Agreement - Rev. 05/18
 

 

Rudolph Technologies, Inc.

 

Service Provider Stock Option Agreement

 

 

 

 

THIS  AGREEMENT,  dated ,  20(the  “Grant  Date”),  is  made  between   Rudolph

Technologies, Inc., a Delaware corporation, hereinafter referred to as the “Company,” and(the “Optionee”).

1.Definitions. All capitalized terms used in this Agreement without definition shall have the meanings ascribed in Company’s 2018 Stock Plan, as amended from time to time (the “Plan”).

	
 
	
2.
	
Notice of Stock Option Grant.

	
(a)
	
Grant. You have been granted an option to purchase Common Stock of Company, subject to the terms and conditions of the Plan and this Option Agreement, as specified in Attachment I – Notice of Grant hereto (the “Notice of Grant”).
	
 

	
(b)
	
Vesting Schedule. Subject to accelerated vesting as set forth below, this Option may be exercised, in whole or in part, in accordance with the schedule detailed in the Notice of Grant.
	
 

	
(c)
	
Termination Period. This Option may be exercised for three (3) months after Optionee ceases to be a Service Provider. Upon the death or Disability of Optionee, this Option may be exercised for twelve (12) months after Optionee ceases to be a Service Provider. In no event shall this Option be exercised later than the Term/Expiration Date as provided above.
	
 

	
 
	
3.
	
Agreement.

	
(a)
	
Grant of Option. The Plan Administrator of Company hereby grants to Optionee an option (the “Option”) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”), subject to the terms and conditions of the Plan, which is incorporated herein by reference (the “Grant”). Subject to Section 14(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail.
	
 

If designated in the Notice of Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option,  to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option (“NSO”).

	
 
	
(b)
	
Exercise of Option.

(i)Right to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option Agreement.

(ii)Method of Exercise. This Option is exercisable by delivery of an exercise notice, in the form established by Company from time-to-time (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed  by Optionee and delivered to the Chief Financial Officer of Company. The Exercise Notice shall  be  accompanied  by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price.

No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with Applicable Laws. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to Optionee on the date the Option is exercised with respect to such Exercised Shares.

	
(c)
	
Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of Optionee:
	
 

	
 
	
(i)
	
in cash or by personal check, certified check or bank check or wire transfer of immediately available funds;

 

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Service Provider Stock Option Agreement - Rev. 05/18
 

	
 
	
(ii)
	
other Shares provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option is exercised, provided that accepting such Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion;
	
 

 

	
 
	
(iii)
	
by delivery of a properly executed exercise notice together with any other documentation  as  the Administrator and the Participant’s broker, if applicable, require to effect an exercise of the Option and delivery to the Company of the sale or other proceeds (as permitted by Applicable Law) required to pay the exercise price;
	
 

 

	
 
	
(iv)
	
by withholding Shares otherwise issuable in connection with the exercise of the Option (“net exercise”); or

 

	
 
	
(v)
	
such other consideration and method of payment authorized by the Administrator in its discretion or  permitted by the Award Agreement, the Plan and Applicable Law.
	
 

 

	
(d)
	
Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Optionee.
	
 

	
(e)
	
Term of Option. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.
	
 

	
(f)
	
Tax Consequences. Some of the federal tax consequences relating to this Option, as of the date of this Option, are set forth below. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.
	
 

	
 
	
(g)
	
Exercising the Option.

(i)Nonstatutory Stock Option. Optionee may incur regular federal income tax liability upon exercise of a NSO. Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess,  if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price. If Optionee is an Employee or a former Employee, Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

(ii)Incentive Stock Option. If this Option qualifies as an ISO, Optionee will have no regular federal income tax liability upon its exercise, although the excess, if any, of the Fair Market Value of the Exercised Shares on the  date  of exercise over their aggregate Exercise Price will be treated as an adjustment to alternative minimum taxable income for federal tax purposes and may subject Optionee to alternative minimum tax in the year of exercise. In the event that Optionee ceases to be an Employee but remains a Service Provider, any Incentive Stock Option of Optionee that remains unexercised shall cease to qualify as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option on the date three (3) months and one (1) day following such change of status.

	
 
	
(iii)
	
Disposition of Shares.

(A)NSO. If Optionee holds NSO Shares for at least one (1) year, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes.

(B)ISO. If Optionee holds ISO Shares for at least one (1) year after exercise and two (2) years after the grant date, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. If Optionee disposes of ISO Shares within one (1) year after exercise or two (2) years after the grant date, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the lesser of (A) the difference between the Fair Market Value of the Shares acquired on the date of exercise and the aggregate Exercise Price, or (B) the difference between the sale price of such Shares and the aggregate Exercise Price. Any additional gain will be taxed as capital gain, short-term or long-term depending on the period that the ISO Shares were held.

(iv)Notice of Disqualifying Disposition of ISO Shares. If Optionee sells or otherwise disposes of any of the Shares acquired pursuant to an ISO on or before the later of (i) two (2) years after the grant date, or (ii) one (1) year after the exercise date, Optionee shall immediately notify Company in writing of such disposition. Optionee agrees that he or she may

 

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Service Provider Stock Option Agreement - Rev. 05/18
 

be subject to income tax withholding by Company on the compensation income recognized from such early disposition of ISO Shares by payment in cash or out of the current earnings paid to Optionee.

	
(h)
	
Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of Company and Optionee with respect to the subject matter hereof, and may not be modified adversely to Optionee's interest except by means of a writing signed by Company and Optionee. This Option Agreement is governed by the internal substantive laws, but not the choice of law rules, of Delaware.
	
 

	
(i)
	
Conformity to Securities Laws. Optionee acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act of 1933, as amended, and the Exchange Act, and any and all regulations and rules promulgated thereunder by the Securities and Exchange Commission, including without limitation Rule 16b-3 under the Exchange Act. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Grants are granted, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.
	
 

	
(j)
	
NO GUARANTEE OF CONTINUED SERVICE. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH OPTIONEE'S RIGHT OR COMPANY'S RIGHT TO TERMINATE OPTIONEE'S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.
	
 

	
(k)
	
Notices. Notices required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States mail by certified mail, with postage and fees prepaid, addressed  to Optionee to his/her address shown in Company records, and to Company at its principal executive office.
	
 

 

 

By your signature and the signature of Company's representative below, you and Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement. Optionee has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing  this Option Agreement and fully understands all provisions of the Plan and Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Option Agreement. Optionee further agrees to notify Company upon any change in the residence address indicated below.

 

 

RUDOLPH TECHNOLOGIES, INC.

 

By: /s/ Steven R. Roth Name: Steven R. Roth

Title: Senior Vice President & CFO

 

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Service Provider Stock Option Agreement - Rev. 05/18
 

ATTACHMENT I NOTICE OF GRANT

 

OPTIONEE INFORMATION:

 

 

Optionee Name:  

 

Optionee Residence Address:«STREET1»

«STREET2»

«CITY», «STATE» «ZIP»

«COUNTRY»

 

 

Optionee Section 16 Status:Optioneeisis nota Section 16 Insider of Company.

 

 

GRANT INFORMATION:

 

 

Grant Date: Grant Number:  

 

Aggregate number of Stock Options subject to the Grant:  

 

Exercise Price per Share:   

 

Type of Option:  Nonstatutory Stock OptionIncentive Stock Option

 

 

Vesting Schedule:

 

			
	
VEST DATE
	
SHARES
	
EXIPRATION DATE

	
%%SHARES_PERIOD1%-%
	
%%VEST_DATE_PERIOD1%-%
	
%%EXPIRE_DATE_PERIOD1%-%

	
%%SHARES_PERIOD2%-%
	
%%VEST_DATE_PERIOD2%-%
	
%%EXPIRE_DATE_PERIOD1%-%

	
%%SHARES_PERIOD3%-%
	
%%VEST_DATE_PERIOD3%-%
	
%%EXPIRE_DATE_PERIOD1%-%

	
%%SHARES_PERIOD4%-%
	
%%VEST_DATE_PERIOD4%-%
	
%%EXPIRE_DATE_PERIOD1%-%

	
%%SHARES_PERIOD5%-%
	
%%VEST_DATE_PERIOD5%-%
	
%%EXPIRE_DATE_PERIOD1%-%

 

The foregoing vesting schedule for the Grant is contingent upon the existence of a valid and effective services agreement that has been executed by and between the Company and the Optionee. In the event that such agreement expires, is terminated or is otherwise rendered ineffective, the foregoing vesting schedule shall cease and Optionee shall be subject to the terms set forth in Section 2(c) of this Stock Option Agreement.

 

 

 

Company Stock Plan Administration Service (the “Stock Service”): E*Trade

 

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Rudolph Technologies, Inc.

 

Director Stock Option Agreement

 

THIS AGREEMENT, dated , 20(the “Grant Date”), is made between Rudolph Technologies, Inc., a Delaware corporation, hereinafter referred to as the “Company,” and(the “Optionee”).

1.Definitions. All capitalized terms used in this Agreement without definition shall have the meanings ascribed in Company’s 2018 Stock Plan, as amended from time to time (the “Plan”).

	
 
	
2.
	
Notice of Stock Option Grant.

	
(a)
	
Grant. You have been granted an option to purchase Common Stock of Company, subject to the terms and conditions of the Plan and this Option Agreement, as specified in Attachment I – Notice of Grant hereto (the “Notice of Grant”).
	
 

	
(b)
	
Vesting Schedule. Subject to accelerated vesting as set forth below, this Option may be exercised, in whole or in part, in accordance with the schedule detailed in the Notice of Grant.
	
 

(c)Termination Period. This Option may be exercised for three (3) months after Optionee ceases to be a Service Provider. Upon the death or Disability of Optionee, this Option may be exercised for twelve (12) months after Optionee ceases to be a Service Provider. In no event shall this Option be exercised later than the Term/Expiration Date as provided above.

	
 
	
3.
	
Agreement.

	
(a)
	
Grant of Option. The Plan Administrator of Company hereby grants to Optionee an option (the “Option”) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”), subject to the terms and conditions of the Plan, which is incorporated herein by reference (the “Grant”). Subject to Section 14(c) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail.
	
 

If designated in the Notice of Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section 422(d) it shall be treated as a Nonstatutory Stock Option (“NSO”).

	
 
	
(b)
	
Exercise of Option.

(i)Right to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option Agreement.

(ii)Method of Exercise. This Option is exercisable by delivery of an exercise notice, in the form established by Company from time-to-time (the “Exercise Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed  by Optionee and delivered to the Chief Financial Officer of Company. The Exercise Notice shall  be  accompanied  by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price.

No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with Applicable Laws. Assuming such compliance, for income tax purposes the Exercised Shares shall be considered transferred to Optionee on the date the Option is exercised with respect to such Exercised Shares.

	
(c)
	
Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of Optionee:
	
 

	
 
	
(i)
	
in cash or by personal check, certified check or bank check or wire transfer of immediately available funds;

 

	
 
	
(ii)
	
other Shares provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option is exercised, provided that accepting such
	
 

 

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Director Stock Option Agreement - Rev. 05/18
 

Shares will not result in any adverse accounting consequences to the Company, as the Administrator determines in its sole discretion;

 

	
 
	
(iii)
	
by delivery of a properly executed exercise notice together with any other documentation  as  the Administrator and the Participant’s broker, if applicable, require to effect an exercise of the Option and delivery to the Company of the sale or other proceeds (as permitted by Applicable Law) required to pay the exercise price;
	
 

 

	
 
	
(iv)
	
by withholding Shares otherwise issuable in connection with the exercise of the Option (“net exercise”); or

 

	
 
	
(v)
	
such other consideration and method of payment authorized by the Administrator in its discretion or  permitted by the Award Agreement, the Plan and Applicable Law.
	
 

 

	
(d)
	
Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of Optionee.
	
 

	
(e)
	
Term of Option. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.
	
 

	
(f)
	
Tax Consequences. Some of the federal tax consequences relating to this Option, as of the date of this Option, are set forth below. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES.
	
 

	
 
	
(g)
	
Exercising the Option.

(i)Nonstatutory Stock Option. Optionee may incur regular federal income tax liability upon exercise of a NSO. Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess,  if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate Exercise Price. If Optionee is an Employee or a former Employee, Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise.

(ii)Incentive Stock Option. If this Option qualifies as an ISO, Optionee will have no regular federal income tax liability upon its exercise, although the excess, if any, of the Fair Market Value of the Exercised Shares on the  date  of exercise over their aggregate Exercise Price will be treated as an adjustment to alternative minimum taxable income for federal tax purposes and may subject Optionee to alternative minimum tax in the year of exercise. In the event that Optionee ceases to be an Employee but remains a Service Provider, any Incentive Stock Option of Optionee that remains unexercised shall cease to qualify as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option on the date three (3) months and one (1) day following such change of status.

	
 
	
(iii)
	
Disposition of Shares.

(A)NSO. If Optionee holds NSO Shares for at least one (1) year, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes.

(B)ISO. If Optionee holds ISO Shares for at least one (1) year after exercise and two (2) years after the Grant Date, any gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. If Optionee disposes of ISO Shares within one (1) year after exercise or two (2) years after the grant date, any gain realized on such disposition will be treated as compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the lesser of (A) the difference between the Fair Market Value of the Shares acquired on the date of exercise and the aggregate Exercise Price, or (B) the difference between the sale price of such Shares and the aggregate Exercise Price. Any additional gain will be taxed as capital gain, short-term or long-term depending on the period that the ISO Shares were held.

(iv)Notice of Disqualifying Disposition of ISO Shares. If Optionee sells or otherwise disposes of any of the Shares acquired pursuant to an ISO on or before the later of (i) two (2) years after the grant date, or (ii) one (1) year after the exercise date, Optionee shall immediately notify Company in writing of such disposition. Optionee agrees that he or she may be subject to income tax withholding by Company on the compensation income recognized from such early disposition of ISO Shares by payment in cash or out of the current earnings paid to Optionee.

 

2

Director Stock Option Agreement - Rev. 05/18
 

	
(h)
	
Entire Agreement; Governing Law. The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of Company and Optionee with respect to the subject matter hereof, and may not be modified adversely to Optionee's interest except by means of a writing signed by Company and Optionee. This Option Agreement is governed by the internal substantive laws, but not the choice of law rules, of Delaware.
	
 

	
(i)
	
Conformity to Securities Laws. Optionee acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act of 1933, as amended, and the Exchange Act, and any and all regulations and rules promulgated thereunder by the Securities and Exchange Commission, including without limitation Rule 16b-3 under the Exchange Act. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the Grants are granted, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws, rules and regulations.
	
 

	
(j)
	
NO GUARANTEE OF CONTINUED SERVICE. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH OPTIONEE'S RIGHT OR COMPANY'S RIGHT TO TERMINATE OPTIONEE'S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE.
	
 

	
(k)
	
Notices. Notices required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in the United States mail by certified mail, with postage and fees prepaid, addressed  to Optionee to his/her address shown in Company records, and to Company at its principal executive office.
	
 

 

 

By your signature and the signature of Company's representative below, you and Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement. Optionee has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement and fully understands all provisions of the Plan and Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Option Agreement. Optionee further agrees to notify Company upon any change in the residence address indicated below.

 

OPTIONEE:RUDOLPH TECHNOLOGIES, INC.

 

SignatureBy

Print NameTitle

 

Residence Address

 

CONSENT OF SPOUSE

 

The undersigned spouse of Optionee has read and hereby approves the terms and conditions of the Plan and this Option Agreement. In consideration of Company's granting his or her spouse the right to purchase Shares as set forth in the Plan and this Option Agreement, the undersigned hereby agrees to be irrevocably bound by the terms and conditions of the Plan and this Option Agreement and further agrees that any community property interest shall be similarly bound. The undersigned hereby appoints the undersigned's spouse as attorney-in-fact for the undersigned with respect to any amendment or exercise of rights under the Plan or this Option Agreement.

 

Spouse of Optionee

 

3

Director Stock Option Agreement - Rev. 05/18
 

ATTACHMENT I NOTICE OF GRANT

 

OPTIONEE INFORMATION:

 

 

Optionee Name:  

 

Optionee Residence Address:«STREET1»

«STREET2»

«CITY», «STATE» «ZIP»

«COUNTRY»

 

 

Optionee Section 16 Status:Optioneeisis nota Section 16 Insider of Company.

 

 

GRANT INFORMATION:

 

 

Grant Date: Grant Number:  

 

Aggregate number of Stock Options subject to the Grant:  

 

Exercise Price per Share:   

 

Type of Option:Nonstatutory Stock OptionIncentive Stock Option

 

 

Vesting Commencement Date: Term/Expiration Date:  

 

 

Vesting Schedule:

The Options shall vest with respect to twenty percent (20%) of the Options subject to the Grant (rounded down to the next whole number of shares) on each of the first five (5) anniversaries of the Grant Date.

 

The Options shall vest with respect to  

 

 

Additional Vesting Requirements:

 

 

 

Company Stock Plan Administration Service (the “Stock Service”):   

4

Director Stock Option Agreement - Rev. 05/18EX-10.1

 Exhibit 10.1 

Award Agreement for 

Restricted Stock Units under the Bojangles’, Inc. 

Amended and Restated 2011 Equity Incentive Plan 

THIS AWARD AGREEMENT FOR RESTRICTED STOCK UNITS (this “Agreement”) is made by Bojangles’, Inc. (the
“Company”) to the participant named on the grant schedule attached hereto (the “Grantee”), dated as of the date set forth on the grant schedule attached hereto (the “Grant Date”). 

RECITALS 

WHEREAS, the Company desires to award Restricted Stock Units to the Grantee under the Bojangles’, Inc. Amended and Restated 2011 Equity
Incentive Plan, as amended (the “Plan”), pursuant to the terms of this Agreement. 
 NOW, THEREFORE, in consideration of
these premises and the agreements set forth herein, the parties, intending to be legally bound hereby, agree as follows: 
 1. Grant
Schedule. Certain terms of the grant of Restricted Stock Units are set forth on the grant schedule (the “Grant Schedule”) that is attached to, and is a part of, this Agreement. 

2. Grant of Restricted Stock Units. As of the Grant Date, pursuant to the Plan, the Company hereby awards to the Grantee the
number of Restricted Stock Units set forth on the Grant Schedule (the “Award”), subject to the restrictions and on the terms and conditions set forth in this Agreement and the Plan. The terms of the Plan are hereby incorporated into this
Agreement by this reference, as though fully set forth herein. Capitalized terms used but not defined herein, including the Grant Schedule, will have the same meaning as defined in the Plan. 

3. Grant Date. The Grant Date of the Restricted Stock Units is set forth on the Grant Schedule. 

4. Vesting. Subject to the further provisions of this Agreement, the Restricted Stock Units will vest as set forth on the Grant
Schedule (the date on which Restricted Stock Units vest being referred to as the “Vesting Date”). 
 5. Transferability.
The Restricted Stock Units are not transferable or assignable otherwise than by will or by the laws of descent and distribution. Any attempt to transfer Restricted Stock Units, whether by transfer, pledge, hypothecation or otherwise and whether
voluntary or involuntary, by operation of law or otherwise, will not vest the transferee with any interest or right in or with respect to such Restricted Stock Units. 

6. Termination of Service. In the event of the Grantee’s termination of service with the Company, all unvested Restricted Stock
Units will vest or be forfeited according to the terms and conditions of the Grant Schedule. [To the extent compliance with the requirements of Treasury Regulation § 1.409A-3(i)(2) is

 
necessary to avoid the application of an additional tax under section 409A of the Code to the issuance of Shares to the Grantee, then any issuance of Shares to the Grantee that would otherwise be
made during the six-month period beginning on the date of such termination will be deferred and delivered to the Grantee immediately following the lapse of such
six-month period.] 
 7. Issuance of Shares. 

a. Unless otherwise set forth on the Grant Schedule, within ten (10) business days following the Vesting Date [(including any accelerated
vesting date provided in the Grant Schedule)], the Company shall issue to the Grantee, either by book-entry registration or issuance of a stock certificate or certificates, a number of Shares equal to the number of Restricted Stock Units granted
hereunder that have vested as of such date. Any Shares issued to the Grantee hereunder shall be fully paid and non-assessable. 

b. The Company may require as a condition of the issuance of Shares, pursuant to Section 7(a) hereof, that the Grantee remit to the
Company an amount sufficient in the opinion of the Company to satisfy any federal, state and other governmental tax withholding requirements related to the issuance of such shares. The Committee, in its sole discretion, may permit the Grantee to
satisfy the minimum required withholding obligation by delivering shares of Common Stock or by directing the Company to withhold from delivery shares of Common Stock, in either case valued at their Fair Market Value on the applicable issuance date,
with fractional shares being settled in cash. 
 c. The Grantee will not be deemed for any purpose to be, or have rights as, a stockholder
of the Company by virtue of the grant of Restricted Stock Units, until shares of Common Stock are issued in settlement of such Restricted Stock Units pursuant to Section 7(a) hereof. Upon the issuance of a stock certificate or the making of an
appropriate book entry on the books of the transfer agent, the Grantee will have all of the rights of a stockholder. 
 d. [If it is
determined by the Committee that gross negligence, intentional misconduct or fraud by Grantee caused or partially caused the Company to have to restate all or a portion of its financial statements, the Committee, in its sole discretion, may, to the
extent permitted by law and to the extent it determines in its sole judgment that it is in the best interests of the Company to do so, require repayment of Shares delivered pursuant to the vesting of the Restricted Stock Units, or to effect the
cancellation of unvested Restricted Stock Units, if (i) the vesting of the Award was calculated based upon, or contingent on, the achievement of financial or operating results that were the subject of or affected by the restatement, and
(ii) the extent of vesting of the Award would have been less had the financial statements been correct.] 
 8. Securities
Matters. The Company shall be under no obligation to effect the registration pursuant to the Securities Act of 1933, as amended (the “1933 Act”) of any interests in the Plan or any Shares to be issued thereunder or to effect similar
compliance under any state laws. The Company shall not be obligated to cause to be issued any Shares, whether by means of stock certificates or appropriate book entries, unless and until the Company is advised by its counsel that the issuance
of such Shares is in compliance with all applicable laws, regulations of governmental authority and the requirements of any securities exchange on which Shares are traded. The Committee may require, as a condition of the issuance of Shares
pursuant to the terms hereof, that the recipient of such Shares make such covenants, agreements and representations, 

 
and that any certificates bear such legends and any book entries be subject to such electronic coding or stop order, as the Committee, in its sole discretion, deems necessary or
desirable. The Grantee specifically understands and agrees that the Shares, if and when issued, may be “restricted securities,” as that term is defined in Rule 144 under the 1933 Act and, accordingly, the Grantee may be required to
hold the shares indefinitely unless they are registered under the 1933 Act or an exemption from such registration is available. 
 9.
Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any party under this Agreement, will impair any such right, power or remedy of such party, nor
will it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring, nor will any waiver of any single breach or default be deemed a waiver of any other breach
or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character by the of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or conditions of
this Agreement, must be in a writing signed by such party and will be effective only to the extent specifically set forth in such writing. 

10. Withholding. The Company reserves the right to withhold, in accordance with any applicable laws, from any consideration payable or
property transferable to Grantee any taxes required to be withheld by federal, state or local law as a result of the grant or vesting of this Award or other disposition of the Shares. 

11. Right of Discharge Preserved. The grant of Restricted Stock Units hereunder will not confer upon the Grantee any right to continue
in service with the Company or any of its subsidiaries or Affiliates. 
 12. The Plan. By accepting this Award, the Grantee
acknowledges that the Grantee has received a copy of the Plan, has read the Plan and is familiar with its terms, and accepts the Restricted Stock Units subject to all of the terms and provisions of the Plan, as amended from time to time. Pursuant to
the Plan, the Board or its Committee is authorized to interpret the Plan and to adopt rules and regulations not inconsistent with the Plan as it deems appropriate. By accepting this Award, the Grantee acknowledges and agrees to accept as binding,
conclusive and final all decisions or interpretations of the Board or its Committee upon any questions arising under the Plan. 
 13.
Governing Law. This Agreement and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement shall be
governed by, and enforced in accordance with, the laws of the State of Delaware, without regard to the application of the principles of conflicts of laws. 

The Award is made by the Company as of the date stated in the introductory paragraph. 

 
			
	BOJANGLES’, INC.

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

 Grant Schedule 

 

					
			
	Grantee’s name:	  		 	[Grantee]
			
	Grant Date:	  		 	[Grant Date]
			
	 1.  Number of Restricted Stock Units granted:
	  		 	[# of RSUs]
		
	 2.  Vesting: [The Restricted Stock Units will vest in accordance with
the schedule below, provided in each case that the Grantee has remained in continuous service with the Company through such date:]
	 	

  

			
	 Number of Vested

Restricted Stock Units
	  	 Date

	[            ]	  	[            ]
	[            ]	  	[            ]
	[            ]	  	[            ]
	[            ]	  	[            ]
	 Total: [shares]        
	  	

 [OR] 

[Subject to the Grantee’s continued service to the Company through the Vesting Date,100% of the Restricted Stock Units will vest on the
date of the Company’s next annual stockholder meeting following the Grant Date.]     
 [In the event of a Change in Control while
the Grantee remains in service with the Company, all of the then unvested Restricted Stock Units will vest as of the date of such Change in Control.] 
 [If
the Grantee ceases to provide services to the Company as a result of: (i) his or her Disability, or (ii) his or her death, all of the then unvested Restricted Stock Units will vest as of the date of such cessation of service.] 

[Unless otherwise provided for above], if the Grantee’s service to the Company ceases for any reason, any Restricted Stock Units that are then still
subject to vesting conditions as of such date shall be immediately forfeited with no other compensation due to the Grantee. 
  

			
	BOJANGLES’, INC.

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	
	DATED:

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