Document:

EX-4.1

 Exhibit 4.1 
  

	
	

 

 
 CIRIUS THERAPEUTICS, INC. THE COMPANY WILL FURNISH WITHOUT CHARGE TO EACH SHAREHOLDER WHO SO REQUESTS, A SUMMARY OF THE
POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OF THE COMPANY AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND RIGHTS, AND THE VARIATIONS IN RIGHTS,
PREFERENCES AND LIMITATIONS DETERMINED FOR EACH SERIES, WHICH ARE FIXED BY THE CERTIFICATE OF INCORPORATION OF THE COMPANY, AS AMENDED, AND THE RESOLUTIONS OF THE BOARD OF DIRECTORS OF THE COMPANY, AND THE AUTHORITY OF THE BOARD OF DIRECTORS TO
DETERMINE VARIATIONS FOR FUTURE SERIES. SUCH REQUEST MAY BE MADE TO THE OFFICE OF THE SECRETARY OF THE COMPANY OR TO THE TRANSFER AGENT. THE BOARD OF DIRECTORS MAY REQUIRE THE OWNER OF A LOST OR DESTROYED STOCK CERTIFICATE, OR HIS LEGAL
REPRESENTATIVES, TO GIVE THE COMPANY A BOND TO INDEMNIFY IT AND ITS TRANSFER AGENTS AND REGISTRARS AGAINST ANY CLAIM THAT MAY BE MADE AGAINST THEM ON ACCOUNT OF THE ALLEGED LOSS OR DESTRUCTION OF ANY SUCH CERTIFICATE. The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: TEN COM-as tenants in common TEN ENT - as tenants by the entireties JT TEN -as
joint tenants with right of survivorship and not as tenants in common UNIF GIFT MIN ACT -Custodian (Cust)(Minor) under Uniform Gifts to Minors Act (State) UNIF TRF MIN ACT-Custodian (until age) (Cust) under Uniform Transfers to Minors Act (Minor)
(State) Additional abbreviations may also be used though not in the above list. PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE For value received, hereby sell, assign and transfer unto (PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) Shares of the common stock represented by the within Certificate, and do hereby irrevocably constitute and appoint Attorney to transfer the said stock on the books of the within-named Company with
full power of substitution in the premises. Dated: 20 Signature: Signature: Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate, in every particular, without alteration or enlargement,
or any change whatever. Signature(s) Guaranteed: Medallion Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN
APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15. The IRS requires that the named transfer agent ("we") report the cost basis of certain shares or units acquired after January 1, 2011. If your shares or units are
covered by the legislation, and you requested to sell or transfer the shares or units using a specific cost basis calculation method, then we have processed as you requested. If you did not specify a cost basis calculation method, then we have
defaulted to the first in, first out (FIFO) method. Please consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with the issuer or do not have any activity in your account for the time period
specified by state law, your property may become subject to state unclaimed property laws and transferred to the appropriate state. SECURITY INSTRUCTIONS THIS IS WATERMARKED PAPER, DO NOT ACCEPT WITHOUT NOTING WATERMARK HOLD TO LIGHT TO VERIFY
WATERMARK.Blueprint

  Exhibit
4.8

 

 

FLUX POWER HOLDINGS, INC.

INCENTIVE STOCK OPTION AGREEMENT

 

________________,
201__

 

[NAME
OF PARTICIPANT]

[Address
of Participant]

 

Dear
Participant:

 

Pursuant
to the terms and conditions of the Flux Power Holdings, Inc. 2014
Equity Incentive Plan (the “Plan”) and this Incentive
Stock Option Agreement, together with the attached Terms and
Conditions, which are incorporated herein by reference (the
“Agreement”), you have been granted an Incentive Stock Option to
purchase shares of common stock (this “Option”) as
outlined below.

 

Granted
To:                

_____________________

 

Grant
Date:      

_____________________

 

Options
Granted:

_____________________

 

Exercise Price per
Share:  

_____________________

 

Total Cost to
Exercise:  

_____________________

 

Expiration
Date:

_____________________

 

Vesting
Schedule:  

____% per year for
__ years

 

___% on
__________

___% on
__________

___% on
__________

___% on
__________

 

Subject
to the terms of the Plan and this Agreement, any portion of this
Option not exercised prior to the Expiration Date will become null
and void. The capitalized terms used in this Option will have the
same meanings as set
forth in the Plan. A
copy of the Plan is provided herewith.

 

Flux
Power Holdings , Inc.

 

By:
____________________________

      Ron
Dutt, Chief Executive Officer

 

Accepted and Agreed
To By Participant:

 

By:_______________________________

Print
Name:________________________

Date:______________________________

 

Notice: All notices to be given by either party to the other will
be in writing and may be transmitted by overnight courier; or mail,
registered or certified, postage prepaid with return receipt
requested; or personal delivery; or facsimile transmission,
provided,
however, that
notices of change of address or facsimile number will be effective
only upon actual receipt by the other party. Notices will be
delivered to Flux Power Holdings, Inc., 985 Poinsettia Avenue,
Suite A, Vista, California 92081, Attn: CEO, and to the Participant
at the last known address of the Participant as provided to Flux
Power Holdings , Inc.

 

 

1

 

 

Terms and Conditions of Incentive Stock Option
Agreement

 

Flux Power Holdings, Inc. is referred to as "Company" and Employee
granted option is referred to as "Participant".

 

1.            

Plan Controls. The terms
contained in the Plan are incorporated into and made a part of the
Option and this Agreement and the Options will be governed by and
construed in accordance with the Plan. In the event of any actual
or alleged conflict between the provisions of the Plan and the
provisions of this Agreement, the provisions of the Plan will be
controlling and determinative. Capitalized terms used but not
defined herein shall have the meanings given such terms in the
Plan.

 

2.            

Interpretation. It is the
intent that this Option qualify for Incentive Stock Option
treatment pursuant to and to the extent permitted by
Section 422 of the Code. All provisions hereof are intended
and will be construed to have such meanings as are consistent with
the Code and Treasury Regulations to allow this Option to so
qualify.

 

3.            

Stockholder Approval. The Plan
is subject to the approval of the stockholders of the Company
(excluding Shares issued pursuant to the Plan), consistent with
applicable laws and the applicable requirements of any securities
exchange or similar entity, within twelve (12) months before or
after the date on which the Board has approved the Plan (the
“Effective Date”). No Option may be exercised prior to
initial stockholder approval of the Plan and in the event that
initial stockholder approval is not obtained within the required
time period all of the Options will be canceled, and any Shares
issued pursuant to any Options shall be rescinded.

 

4.            

Manner of Exercise. Subject to
the Plan and this Agreement, the Vested Portion of this Option may
be exercised from time to time, in whole or in part, but not as to less than 1,000 shares of Stock
(unless the remaining shares then constituting the Vested Portion
of this Option is less than 1,000 shares of Stock) at any time, by
delivery to the Company at its principal office of a stock option exercise notice,
substantially in the form attached hereto as Exhibit A(the
“Notice”), which need not
be the same for each Participant, stating the number of Shares
being purchased, the restrictions imposed on the Shares purchased
hereunder, if any, and such representations and agreements
regarding the Participant’s investment intent and access to
information and other matters, if any, as may be required or
desirable by the Company to comply with applicable securities laws.
The Notice must be duly executed by Participant and be
accompanied by payment in cash, or by check payable to the Company,
in full for the Exercise Price for the
number of Shares being purchased. Alternatively, but only if the
Administrator authorizes at the time of exercise at its sole
discretion, and where permitted by law (i) by surrender of shares
of Stock of the Company that have been owned by the Participant for
more than six (6) months or lesser period if the surrender of
Shares is otherwise exempt from Section 16 of the Exchange Act and
if such shares were purchased from the Company by use of a
promissory note, such note has been fully paid with respect to such
shares, (ii) by forfeiture of Shares equal to the value of the
exercise price pursuant to a “deemed net-stock
exercise” as provided for in the Plan, (iii) by broker sale
by following the required instructions therefore including as so
authorized by the Administrator and its sole discretion
instructions to a broker to deliver promptly to the Company the
amount of sale or loan proceeds necessary to pay the exercise price
and the amount of any required tax or other withholding
obligations, or (iv) by any combination of the foregoing methods of
payment or any other consideration or method of payment.
Participant may exercise this Vested Portion of this Option for
only for whole Shares.

 

5.            

Privileges Of Stock
Ownership. Participant will not
have any of the rights of a stockholder with respect to any Shares
until the Shares are issued to Participant. The Company will issue
(or cause to be issued) such stock certificate promptly upon
exercise of this Option. All certificates for Shares or other
securities delivered will be subject to such stock transfer orders,
legends and other restrictions as the Administrator may deem
necessary or advisable, including restrictions under any applicable
federal, state or foreign securities law, or any rules, regulations
and other requirements of the SEC or any stock exchange or
automated quotation system upon which the Shares may be listed or
quoted. No adjustment will be made for a dividend or other right
for which the record date is prior to the date the stock
certificate is issued.

 

 

2

 

6.            

Limitations on Grant
of Incentive Stock Options. The
aggregate Fair Market Value (determined as of the Grant Date) of
the Shares for which this Option may first become exercisable by
any Participant during any calendar year under the Plan, together
with that of Shares subject to the options first exercisable by
such Participant under any other plan of the Company or any
Subsidiary, will not exceed $100,000. For purposes of this Section,
all Options in excess of the $100,000 threshold will be treated as
Non-Qualified Stock Options notwithstanding the designation as
Incentive Stock Options. For this purpose, Options will be taken
into account in the order in which they were granted, and the Fair
Market Value of the Shares will be determined as of the date the
Option with respect to such Shares is granted.

 

7.            

Notification of Disposition.
Participant agrees to notify the Company in writing within 30 days
of any disposition of Shares acquired pursuant to the exercise of
this Option. The Company has the right to deduct or withhold, or
require the Participant to remit to the Company, an amount
sufficient to satisfy federal, state, and local taxes and FICA
required by law to be withheld with respect to any disposition of
Shares prior to the expiration of two years of the Grant Date, or
one year of the date of exercise, of this Option.

 

8.            

Exercise After Certain
Events.

 

8.1.           

Termination of
Employment. If for any reason
other than Retirement, Disability or death, a Participant
Terminates employment with the Company (including employment as an
Officer), vested Options held at the date of such termination may
be exercised, in whole or in part, at any time within three (3)
months after the date of such Termination or such lesser period
specified in this Agreement (but in no event after the earlier of
(i) the expiration date of this Option as set forth in this
Agreement, and (ii) ten (10) years from the Grant Date (five (5)
years for a Ten Percent Stockholder)).

 

8.2           

Continuation of
Services as Consultant. If a
Participant Terminates employment but continues as a Consultant or
in a similar capacity to the Company or any of its Subsidiaries,
the Participant need not exercise this Option within three (3)
months of Termination of employment but will be entitled to
exercise within three (3) months of Termination of services to the
Company (one (1) year in the event of Disability or death) or such
lesser or greater period specified in this Agreement (but in no
event after the earlier of (i) the expiration date of the Option as
set forth in this Agreement, and (ii) ten (10) years from the Grant
Date (five (5) years for a Ten Percent Stockholder)). However, if
Participant does not exercise within three (3) months of
Termination of employment, this Option will not qualify as an
Incentive Stock Option.

 

8.3           

Retirement.
If a Participant ceases to be an employee of the Company (including
as an Officer) as a result of Retirement, the Participant need not
exercise the Option within three (3) months of Termination of
employment but will be entitled to exercise the Option within the
maximum term of the Option to the extent the Option was otherwise
exercisable at the date of Retirement. However, if a Participant
does not exercise within three (3) months of Termination of
employment, the Option will not qualify as an Incentive Stock
Option if it otherwise so qualified.

 

8.4           

Permanent Disability
and Death. If a Participant
becomes Disabled while employed by the Company (including as an
Officer), dies while employed by the Company (including as an
Officer) or dies within three (3) months after Termination, vested
Options then held may be exercised by the Participant, the
Participant’s personal representative, or by the person to
whom the Option is transferred by will or the laws of descent and
distribution, in whole or in part, at any time within one (1) year
after the Termination of employment because of the Disability or
death or any lesser period specified in this Agreement (but in no
event after the earlier of (i) the expiration date of the Option as
set forth in this Agreement, and (ii) ten (10) years from the Grant
Date (five (5) years for an Incentive Stock Option awarded to a Ten
Percent Stockholder)).

 

8.5           

Cancellation of
Options. In the event
Participant’s services to the Company have been terminated
for “Cause”, Participant will immediately forfeit all
rights to this Option. The determination by the Board that
termination was for Cause will be final and conclusive. In making
its determination, the Board will give Participant an opportunity
to appear and be heard at a hearing before the full Board and
present evidence on the Participant's behalf.

 

 

3

 

9.            

Restrictions on Transfer of
Option. This Option will not be transferable by Participant
other than by will or by the laws of descent and distribution and
during the lifetime of Participant, only Participant, his guardian
or legal representative may exercise this Option except that Non-Qualified Stock
Options may be transferred to a Participant's former spouse
pursuant to a property settlement made part of an agreement or
court order incident to the divorce. Participant may designate a
beneficiary to exercise this Option after Participant’s
death. If no beneficiary has been designated or survives
Participant, payment will be made to Participant’s estate.
Subject to the foregoing, a beneficiary designation may be changed
or revoked by Participant at any time, provided the change or
revocation is filed with the Administrator.

 

10.            

No Obligation To Employ.
Nothing in the Plan or this Agreement will confer or be deemed to
confer on any Participant any right to continue in the employ of,
or to continue any other relationship with, the Company or a
Subsidiary, or to limit in any way the right of the Company or a
Subsidiary, to terminate Participant's employment or other
relationship at any time, with or without cause.

 

11.            

Compliance With Code Section
162(m). Notwithstanding any provision of the Plan to the
contrary, if the Administrator determines that compliance with
Section 162(m) of the Code is required or desired, all Options
granted under the Plan to Named Executive Officers will comply with
the requirements of Section 162(m) of the Code. In addition, in the
event that changes are made to Section 162(m) of the Code to permit
greater flexibility with respect to any Options under the Plan, the
Administrator may make any adjustments it deems
appropriate.

 

12.            

Compliance With Code
Section 409A. All Options under
the Plan are intended to constitute awards of equity-based
compensation that do not provide for the deferral of compensation
in accordance with Treasury Regulation 1.409A-1(b)(5).
Notwithstanding any provision of the Plan to the contrary, if any
provision of the Plan or this Agreement contravenes any regulations
or Treasury guidance promulgated under Section 409A of the Code or
could cause the Options to be subject to the interest and penalties
under Section 409A of the Code, such provision of the Plan or this
Agreement will be modified to maintain, to the maximum extent
practicable, the original intent of the applicable provision
without violating the provisions of Section 409A of the Code. In
addition, in the event that changes are made to Section 409A of the
Code to permit greater flexibility with respect to any Options
under the Plan, the Administrator may make any adjustments it deems
appropriate.

 

13.            

Code Section
280G. Notwithstanding any other
provision of the Plan to the contrary, unless expressly provided
otherwise in this Agreement, if the right to receive or benefit
from the Options under the Plan, either alone or together with
payments that a Participant has a right to receive from the
Company, would constitute a “parachute payment” (as
defined in Section 280G of the Code), all such payments will be
reduced to the largest amount that will result in no portion being
an “excess parachute payment” (as defined in Section
280G of the Code) that is subject to the limitations on
deductibility under Section 280G of the Code or the excise tax
imposed by Section 4999 of the Code.

 

14.            

Securities Law And Other Regulatory
Compliance. The Company will not be obligated to issue any
Shares upon exercise of this Option unless such Shares are at that
time effectively registered or exempt from registration under the
federal securities laws and the offer and sale of the Shares are
otherwise in compliance with all applicable securities laws.
The Company will be under no
obligation to register the Shares with the SEC or to effect
compliance with the registration, qualification or listing
requirements of any state securities laws, stock exchange or
automated quotation system, and the Company will have no liability
for any inability or failure to do so. Upon exercising all
or any portion of this Option, Participant may be required to
furnish representations or undertakings deemed appropriate by the
Company to enable the offer and sale of the Shares or subsequent
transfers of any interest in such Shares to comply with applicable
securities laws. Evidences of ownership of Shares acquired upon
exercise of this Option will bear any legend required by, or useful
for purposes of compliance with, applicable securities laws, the
Plan or this Option. The exercise of this Option also must comply
with other applicable laws and regulations governing the Option,
and the Participant may not exercise the Option if the Company
determines that such exercise would not be in material compliance
with such laws and regulations.

 

15.            

Tax Effect. The federal and
state tax consequences of stock options are complex and subject to
change. Each person should consult with his or her tax advisor
before exercising this Option or disposing of any Shares acquired
upon the exercise of this Option.

 

 

4

 

16.            

Entire Agreement. This
Agreement and the Plan constitute the entire contract between the
Company and Participant hereto with regard to the subject matter
hereof. They supersede any other agreements, representations or
understandings (whether oral or written and whether express or
implied), which relate to the subject matter hereof.

 

17.            

Severability. In the event that
any portion of this Agreement is found to be unenforceable, the
remaining portions of this Agreement will remain valid and in full
force and effect.

 

18.            

Choice of Law; Venue. This
Agreement will be governed by the laws of the State of
California.

 

19.            

Compliance by Participant of Local
Laws. As a condition to the exercise of the Option,
Participant hereby represents and agrees that the exercise of the
Option hereunder will not violate any securities laws, exchange
control laws, or any laws or regulations in which the Participant
resides.

 

20.            

Binding Effect. This Agreement
will inure to the benefit of, and be binding upon, the parties
hereto and their respective heirs, executors, and
successors.

 

 

 

 

 

 

 

[INTENTIONALLY LEFT
BLANK]

 

 

5

 

 

FLUX POWER HOLDINGS, INC.

Notice of Intent to Exercise Incentive Stock Options

 

 

To: Stock Administrator

 

 

I
hereby give notice to                     
                 
            
   

of
my intent to exercise the following Incentive Stock Options on
______________, 201__:

 

	

(A)

	

(B)

	

(C)

	

(B X
C)

	

Grant Date

	

#Options

	

Exercise Price

	

Payment Due

   

 

Method of Payment

 

_____ 

Personal Check or
Cash

 

_____                                 

Exchange of
Previously Owned Shares

 

_____                                 

Deemed Net-Stock
Exercise

 

_____                                 

Broker Check (Same
Day Sale)

 

Brokerage Company
_________________________

 

Your method of payment may result in a tax liability including
alternative minimum tax. You are strongly urged to consult your tax
advisor before exercising your options.

 

By this
exercise, the undersigned Participant agree(s) (i) that Participant
is bound by terms and conditions set forth in the Incentive Stock
Option Agreement and is exercising the Options in compliance with
the terms set forth therein and (ii) that Participant will provide
and/or execute and deliver to the Company such additional documents
as the Company may require pursuant to the terms of the Flux Power
Holdings, Inc. 2014 Equity Incentive Plan
(“Plan”).

 

____________________________________                                          

_____________________

Signature                                                                                      

Date

 

____________________________________

Participant
Name

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]