Document:

ex4-9.htm

EXHIBIT 4.9

 

DETERMINE, INC. 

NOTICE OF GRANT OF STOCK OPTION

 

Determine, Inc. (the “Company”) has granted you an option (the “Option”) to purchase certain shares of Stock of the Company. The Option has been granted outside of the Determine, Inc. 2015 Equity Incentive Plan (the “Plan”) and is subject to the attached Non-Plan Stock Option Agreement (the “Non-Plan Stock Option Agreement”); however, as set forth in the Non-Plan Stock Option Agreement, certain provisions set forth in the Plan are incorporated by reference for purposes of administering and interpreting this Option.

 

	
Optionee:
	
John Nolan
	  
	 	 
	
Date of Grant:
	
November 16, 2015

	 	 
	
Number of Option Shares:
	
100,000, subject to adjustment as provided by the Option Agreement.

	 	 
	
Exercise Price:
	
$3.34

	 	 
	
Initial Vesting Date:
	
October 7, 2016

	 	 
	
Option Expiration Date:
	
November 16, 2025. This Option expires earlier if your Service terminates earlier, as described in the Non-Plan Stock Option Agreement.

	 	 
	
Tax Status of Option:
	
Nonstatutory Stock Option

	 	 
	
Vested Shares:
	
Except as provided in the Option Agreement, the number of Vested Shares (disregarding any resulting fractional share) as of any date is determined by multiplying the Number of Option Shares by the “Vested Ratio” determined as of such date as follows:

	 	 
	  	  	
Vested Ratio

	  	
Prior to Initial Vesting Date 
	
0

	 	 	 
	  	
On Initial Vesting Date, provided your Service has not terminated prior to such date
	
1/4

	 	 	 
	  	
Plus
	  
	 	 	 
	  	
For each additional month of Service from Initial Vesting Date until the Vested Ratio equals 1/1, an additional
	
 

1/48

 

 

 

By their signatures below or by electronic acceptance or authentication in a form authorized by the Company, the Company and you agree that the Option is governed by this Grant Notice and by the provisions of the Non-Plan Stock Option Agreement, which is made a part of this document. You represent that you have read and are familiar with the provisions of the Non-Plan Stock Option Agreement, and hereby accept the Option subject to all of its terms and conditions.

 

	
DETERMINE, INC. 
	 	
OPTIONEE

	  	 	  
	
By: 
	/s/ Patrick Stakenas	 	
John K. Nolan
	 

	
Name: 
	Patrick Stakenas	 	
Signature

	
Title: 
	President and CEO	 	
Nov. 16, 2015
	 
	  	 	
Date

	
Address:
	
2121 South El Camino Real, 10th Floor
	  	 
	  	
San Mateo, CA 94403
	
Address

	  	  	  	 

 

 

 

 

 

Determine, Inc.

 

Non-Plan Stock Option Agreement

  

	
 
	
 
	
 
	
 

	
Tax 

Treatment
	
 
	
This Option is intended to be a Nonstatutory Stock Option, as provided in the Notice of Stock Option Grant, and is not intended to qualify as an Incentive Stock Option under section 422 of the Code.

	  	  	  
	
Non-Plan 

Grant
	  	
This Option is being granted outside of the Plan. However, as set forth below, unless otherwise defined herein, capitalized terms shall have the meaning set forth in the Plan. In addition, certain provisions set forth in the Plan shall govern the terms, administration, and interpretation of this Option (collectively, the defined terms and provisions are referred to as the “Applicable Plan Provisions”). For purposes of this Non-Plan Stock Option Agreement, the following Sections of the Plan, as in effect on the Date of Grant, are hereby incorporated by reference: Sections 2, 3 (other than Section 3.4), 4.4, 6, 12 (other than Section 12.3), 13, 14, 15, and 17, and shall be considered Applicable Plan Provisions for purposes of the Option. 

	
 
	
 
	
 
	
 

	
Vesting
	
 
	
This Option becomes vested and exercisable in installments, as shown in the Notice of Stock Option Grant. In addition, this option becomes exercisable as follows in the event that the Company is subject to a Change in Control:

	
 
	
 
	
 
	
 

	  	
 
	
•
	
This Option becomes exercisable in full at the time of the Change in Control unless this Option (a) remains outstanding after the Change in Control, (b) is assumed by the Acquiror, or (c) is replaced by the Acquiror with an award that has substantially the same terms. The determination of whether a replacement award has substantially the same terms as this option will be made by the Committee, and its determination will be final, binding and conclusive.

	
 
	
 
	
 
	
 

	  	
 
	
•
	
If the preceding paragraph does not apply, and if you are subject to an employment or other service or severance arrangement providing for accelerated vesting of your options, then the provisions of such agreement shall govern. 

	
 
	
 
	
 
	
 

	  	
 
	
This Option will in no event become exercisable for additional shares after your Service has terminated for any reason.

	
 
	
 
	
 
	
 

	
Term
	
 
	
This Option expires in any event at the close of business at Company headquarters on the day before the 10th anniversary of the Date of Grant, as shown in the Notice of Stock Option Grant. (It will expire earlier if your Service terminates, as described below.)

	
 
	
 
	
 
	
 

	
Regular 

Termination
	
 
	
If your Service terminates for any reason except death or Disability, then this Option will expire at the close of business at Company headquarters on the date three months after your Service termination date. The Company determines when your Service terminates, as well as the effect of such termination, for this purpose.

	
 
	
 
	
 
	
 

	
Death
	
 
	
If you die before your Service terminates, then this Option will expire at the close of business at Company headquarters on the date 12 months after the date of death.

	
 
	
 
	
 
	
 

	
Disability
	
 
	
If your Service terminates because of your Disability, then this Option will expire at the close of business at Company headquarters on the date 12 months after your termination date.

 

 

 

 

 

	
Leaves of

Absence and 

Part-Time 

Work
	
 
	
For purposes of this Option, your Service does not terminate when you go on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing and if continued crediting of Service is required by the terms of the leave or by applicable law. However, your Service terminates when the approved leave ends, unless you immediately return to active work. In addition, the provisions set forth in Section 2.1(aaa) shall govern the treatment of any leave period.

	
 
	
 
	
 
	
 

	
 
	
 
	
Notwithstanding the foregoing, if you go on a leave of absence, then the vesting schedule specified in the Notice of Stock Option Grant may be adjusted in accordance with the Company’s leave of absence policy or the terms of your leave. If you commence working on a part-time basis, then the vesting schedule specified in the Notice of Stock Option Grant may be adjusted in accordance with the Company’s part-time work policy or the terms of an agreement between you and the Company pertaining to your part-time schedule.

	
 
	
 
	
 
	
 

	
Restrictions 

on Exercise
	
 
	
The Company will not permit you to exercise this Option if the issuance of shares at that time would violate any law or regulation.

	
 
	
 
	
 
	
 

	
Notice of

Exercise
	
 
	
When you wish to exercise this Option, you must notify the Company by filing the proper exercise form as described below. Your notice must specify how many shares you wish to purchase. Your notice must also specify how your shares should be registered. The notice will be effective when the Company receives it.

	
 
	
 
	
 
	
 

	
 
	
 
	
If someone else wants to exercise this Option after your death, that person must prove to the Company’s satisfaction that he or she is entitled to do so.

	
 
	
 
	
 
	
 

	
Method of 

Exercise
	
 
	
Exercise of this Option shall be by means of electronic or written notice (the “Exercise Notice”) in a form authorized by the Company. An electronic Exercise Notice must be digitally signed or authenticated by you in such manner as required by the notice and transmitted to the Company or an authorized representative of the Company (including a third-party administrator designated by the Company). In the event that you are not authorized or are unable to provide an electronic Exercise Notice, the Option shall be exercised by a written Exercise Notice addressed to the Company, which shall be signed by you and delivered in person, by certified or registered mail, return receipt requested, by confirmed facsimile transmission, or by such other means as the Company may permit, to the Company, or an authorized representative of the Company (including a third-party administrator designated by the Company). Each Exercise Notice, whether electronic or written, must state your election to exercise the Option, the number of whole shares of Stock for which the Option is being exercised and such other representations and agreements as to your investment intent with respect to such shares as may be required pursuant to the provisions of this Non-Plan Stock Option Agreement. Further, each Exercise Notice must be received by the Company prior to the termination of the Option as set forth above and must be accompanied by full payment of the aggregate Exercise Price for the number of shares of Stock being purchased. The Option shall be deemed to be exercised upon receipt by the Company of such electronic or written Exercise Notice and the aggregate Exercise Price.

	  	  	  
	
Payment of 

Exercise Price
	  	
Except as otherwise provided below, payment of the aggregate Exercise Price for the number of shares of Stock for which the Option is being exercised shall be made (i) in cash, by check or in cash equivalent; (ii) if permitted by the Company and subject to the limitations contained below, by means of (1) a Cashless Exercise, (2) a Net-Exercise, or (3) a Stock Tender Exercise; or (iii) by any combination of the foregoing.

 

 

 

 

 

	  	  	
The Company reserves, at any and all times, the right, in the Company’s sole and absolute discretion, to establish, decline to approve or terminate any program or procedure providing for payment of the Exercise Price through any of the means described below, notwithstanding that such program or procedures may be available to others:

	  	  	  
	  	  	
(i)       Cashless Exercise. A “Cashless Exercise” means the delivery of a properly executed Exercise Notice together with irrevocable instructions to a broker in a form acceptable to the Company providing for the assignment to the Company of the proceeds of a sale or loan with respect to shares of Stock acquired upon the exercise of the Option in an amount not less than the aggregate Exercise Price for such shares (including, without limitation, through an exercise complying with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve System).

	  	  	  
	  	  	
(ii)      Net-Exercise. A “Net-Exercise” means the delivery of a properly executed Exercise Notice electing a procedure pursuant to which (1) the Company will reduce the number of shares otherwise issuable to the Participant upon the exercise of the Option by the largest whole number of shares having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares with respect to which the Option is exercised, and (2) you shall pay to the Company in cash the remaining balance of such aggregate Exercise Price not satisfied by such reduction in the number of whole shares to be issued. Following a Net-Exercise, the number of shares remaining subject to the Option, if any, shall be reduced by the sum of (1) the net number of shares issued to you upon such exercise, and (2) the number of shares deducted by the Company for payment of the aggregate Exercise Price.

	  	  	  
	  	  	
(iii)     Stock Tender Exercise. A “Stock Tender Exercise” means the delivery of a properly executed Exercise Notice accompanied by (1) your tender to the Company, or attestation to the ownership, in a form acceptable to the Company of whole shares of Stock having a Fair Market Value that does not exceed the aggregate Exercise Price for the shares with respect to which the Option is exercised, and (2) your payment to the Company in cash of the remaining balance of such aggregate Exercise Price not satisfied by such shares’ Fair Market Value. A Stock Tender Exercise shall not be permitted if it would constitute a violation of the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. If required by the Company, the Option may not be exercised by tender to the Company, or attestation to the ownership, of shares of Stock unless such shares either have been owned by the Participant for a period of time required by the Company (and not used for another option exercise by attestation during such period) or were not acquired, directly or indirectly, from the Company.

	  	  	  
	
Withholding 

Taxes and 

Stock 

Withholding
	
 
	
At the time the Option is exercised, in whole or in part, or at any time thereafter as requested by a Participating Company, you hereby authorize withholding from payroll and any other amounts payable to you, and you otherwise agree to make adequate provision for (including by means of a Cashless Exercise to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax (including any social insurance) withholding obligations of the Participating Company Group, if any, which arise in connection with the Option. The Company shall have no obligation to deliver shares of Stock until the tax withholding obligations of the Participating Company Group have been satisfied by you.

	  	  	  
	  	  	
In addition, the Company shall have the right, but not the obligation, to require you to satisfy all or any portion of a Participating Company’s tax withholding obligations upon exercise of the Option by deducting from the shares of Stock otherwise issuable to you upon such exercise a number of whole shares having a fair market value, as determined by the Company as of the date of exercise, not in excess of the amount of such tax withholding obligations determined by the applicable minimum statutory withholding rates.

 

 

 

 

 

	
Restrictions 

on
Resale
	
You agree not to sell any Option shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will apply as long as your Service continues and for such period of time after the termination of your Service as the Company may specify.

	
 
	
 
	
 

	
Transfer of 

Option
	
Prior to your death, only you may exercise this Option. You cannot transfer or assign this Option. For instance, you may not sell this Option or use it as security for a loan. If you attempt to do any of these things, this Option will immediately become invalid. You may, however, dispose of this Option in your will or a beneficiary designation.

	
 
	
 
	
 

	
 
	
Regardless of any marital property settlement agreement, the Company is not obligated to honor a notice of exercise from your former spouse, nor is the Company obligated to recognize your former spouse’s interest in your Option in any other way.

	
 
	
 
	
 

	
Retention 

Rights
	
Neither your Option, nor this Non-Plan Stock Option Agreement gives you the right to be retained by the Company or a subsidiary of the Company in any capacity. The Company and its subsidiaries reserve the right to terminate your Service at any time, with or without cause.

	
 
	
 
	
 

	
Stockholder 

Rights
	
You, or your estate or heirs, have no rights as a stockholder of the Company until you have exercised this Option by giving the required notice to the Company and paying the exercise price. No adjustments are made for dividends or other rights if the applicable record date occurs before you exercise this Option, except as described in the Plan.

	
 
	
 
	
 

	
Adjustments
	
In the event of a stock split, a stock dividend or a similar change in Company stock, the number of shares covered by this Option and the exercise price per share may be adjusted as described in the Plan.

	
 
	
 
	
 

	
Applicable 

Law
	
This Non-Plan Stock Option Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to their choice-of-law provisions).

	
 
	
 
	
 

	
The Plan and 

Other 

Agreements
	
The portions of the Plan constituting Applicable Plan Provisions are incorporated in this Non-Plan Stock Option Agreement by reference.

	
 
	
Except with respect to any written service, employment, or severance arrangement specifically referencing the accelerated vesting of equity awards, this Non-Plan Stock Option Agreement and the Applicable Plan Provisions constitute the entire understanding between you and the Company regarding this Option. Except as set forth in the preceding sentence, any prior agreements, commitments or negotiations concerning this Option are superseded. This Non-Plan Stock Option Agreement may be amended only by another written agreement between the parties.

 

By signing the cover sheet of this Non-Plan Stock Option Agreement, you agree to all of the terms and conditions described above and in the Applicable Plan Provisions.Exhibit 4.2

 

AMENDMENT TO THE

 

RF INDUSTRIES, LTD. 2010 STOCK INCENTIVE
PLAN

 

This Amendment (this "Amendment")
to the RF Industries, Ltd. 2010 Stock Incentive Plan (the "Plan"), is made and shall be effective as of this 8th day
of September, 2017.

 

WHEREAS, the Board of Directors of RF Industries,
Ltd. (the "Company") has previously approved an amendment to the Plan to increase the number of shares reserved under
the Plan by 1,000,000 shares; and

 

WHEREAS, effective as of this date, the
stockholders of the Company have approved a 1,000,000 increase in the number of shares reserved under the Plan;

 

NOW, THEREFORE, in accordance with Section
12(b) of the Plan, Section 4(a) of the Plan is hereby deleted and replaced in its entirety by the following:

 

		1.	Share Reserve. Subject to the provisions of subsection
11(a) relating to adjustments upon changes in Common Stock, the shares of Common Stock that may be issued pursuant to Stock Awards
shall not exceed in the aggregate 3,000,000 shares of Common Stock. Subject to subsection 4(b), the number of shares available
for issuance under the Plan shall be reduced by (i) one share for each share of Common Stock issued pursuant to a Stock Award
granted under Section 6 or Section 7 and (ii) one share for each Common Stock equivalent subject to a stock appreciation
right granted under subsection 7(c)..

 

		2.	As modified hereby, the provisions of the Plan shall
remain in full force and effect, and the Plan may be restated, as amended hereby, in its entirety.

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