Document:

Intellichem, Inc. 2003 Stock Option Plan

 Exhibit 4.4 

Amended 4/28/2003 

INTELLICHEM, INC. 

2003 STOCK OPTION PLAN 

 TABLE OF CONTENTS 

 

					
	 SECTION 1.
	  	Purpose	  	3
			
	 SECTION 2.
	  	Definitions	  	3
			
	 SECTION 3.
	  	Stock Subject to This Plan	  	4
			
	 SECTION 4.
	  	Administration	  	4
			
	 SECTION 5.
	  	Options and Eligible Participants	  	5
			
	 SECTION 6.
	  	Provisions Applicable to All Options	  	5
			
	 SECTION 7.
	  	Provisions applicable to ISOs Only	  	7
			
	 SECTION 8.
	  	Employment with Related Entities	  	7
			
	 SECTION 9.
	  	Termination of Relationship with Company	  	7
			
	 SECTION 10.
	  	Options Not Transferable	  	9
			
	 SECTION 11.
	  	Changes in Company’s Capital Structure	  	9
			
	 SECTION 12.
	  	Securities Regulation and Other Required Approvals	  	10
			
	 SECTION 13.
	  	Withholding Tax Requirement	  	11
			
	 SECTION 14.
	  	Status of Shareholder	  	11
			
	 SECTION 15.
	  	Rights and Relationships	  	11
			
	 SECTION 16.
	  	Amendment and Termination	  	11
			
	 SECTION 17.
	  	Applicable Law	  	12
			
	 SECTION 18.
	  	Effectiveness of This Plan	  	12

  

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 INTELLICHEM, INC. 

2003 STOCK OPTION PLAN 

SECTION 1. Purpose. The purpose of this IntelliChem, Inc. 2003 Stock Option Plan (this “Plan”) is to provide a
means for IntelliChem, Inc. (the “Company”) and related entities to continue to attract, motivate and retain key employees, consultants and other independent contractors and directors, and to provide these individuals with greater
incentive for their service to the Company (and related entities) by linking their interests in the Company’s success with those of the Company and its shareholders. 

SECTION 2. Definitions. When used in this Plan the following terms are defined as set forth below: 

“Administrator” has the meaning provided in Section 4. 

“Board” means the Board of Directors of the Company. 

“Capitalization Change” has the meaning provided in Section 11.1. 

“Cause” has the meaning provided in Section 9.1.2. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Common Stock” has the meaning provided in Section 3. 

“Company” means IntelliChem, Inc. 

“Effective Date” has the meaning provided in Section 17. 

“Eligible Participants” has the meaning provided in Section 5.2. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Exercise Price” means the amount to be paid by an Optionee to exercise an Option. 

“Fair Market Value” of a share of Common Stock is the fair market value established in good faith by the Administrator,
unless one of the following applies: (a) If the Common Stock is listed on the Nasdaq National Market, then the Fair Market Value is the closing sales price for the Common Stock as recorded by the Nasdaq SmallCap or National Market for the
immediately preceding trading day; (b) if the Common Stock is listed on the New York Stock Exchange or the American Stock Exchange, then the Fair Market Value is the closing sales price for the Common Stock as such price is officially quoted in
the composite tape of transactions on such exchange for the immediately preceding trading day; or (c) if the Common Stock is publicly traded but there is no reported closing sales price on Nasdaq or the applicable exchange for the date in
question, then such price on the last preceding date for which a closing sales price exists shall be determinative of Fair Market Value. 

“Grant Date” means the date on which the Administrator completes the corporate action relating to the grant of an Option
and all conditions precedent to the grant have been satisfied, provided that conditions relating to exercisability or vesting of an Option shall not defer the Grant Date. 

“ISO” or “Incentive Stock Option” has the meaning provided in Section 4.1. 

“NQSO” or “Nonqualified Stock Option” has the meaning provided in Section 5.1. 

 

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 “Option” means an option granted pursuant to this Plan for the purchase of
shares of Common Stock. 
 “Option Agreement” means a written agreement that details the terms and conditions
of a particular Option. 
 “Optionee” means an individual or entity who has received an Option under this Plan.

 “Plan” means this IntelliChem, Inc. 2003 Stock Option Plan. 

“Related Entity” means any entity that, directly or indirectly, is in control of, or is controlled by, or under common
control with the Company. 
 “Sales Event” has the meaning provided in Section 11.2.1. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Total Disability” has the meaning provided in Section 9.2. 

SECTION 3. Stock Subject to This Plan. The stock issuable under this Plan is the Company’s Common Stock, with voting
rights, either authorized but unissued or reacquired by the Company. 
 3.1 Amount. Subject to adjustment under Section
11.1, the maximum amount of Common Stock that may be issued for Options under this Plan is 4,000,000 shares, as such Common Stock was constituted on the Effective Date. 

3.2 Returned Shares. If any outstanding Option expires, or is exchanged, canceled or terminated for any reason without having been
exercised or realized in full, then the unpurchased or unissued shares subject to such Options will again be available for issuance under this Plan. If the Company repurchases shares of Common Stock issued pursuant to an Option, then the repurchased
shares will not be available again for issuance under this Plan, unless the shares relate to an Option (or portion of an Option) that was exercised prior to becoming vested, which shares are then repurchased by the Company, for the Optionee’s
Exercise Price, in conjunction with the Optionee terminating employment or services with the Company prior to satisfaction of the underlying vesting schedule, in which case the repurchased shares will again be available for issuance under this Plan;
provided, that the aggregate number of shares that may be issued upon the exercise of ISOs will in no event exceed 3,552,300, subject to adjustment from time to time as provided in Section 11.1. 

SECTION 4. Administration. 

4.1 Administrator. The Board of Directors of the Company will administer this Plan, except to the extent that it delegates
administrative responsibilities to a committee or subcommittee. The body charged with administering the Plan is referred to as the “Administrator.” Notwithstanding the delegation of administrative authority, the Board has exclusive
authority to (a) amend or terminate this Plan as provided in Section 16, and (b) remove members from and add members to the Administrator. The Administrator may further delegate administrative duties to those officers and managers of the
Company as it so determines. 
 4.2 Procedures. The Administrator may hold meetings at such times and places as it
determines, and from time to time adopt and amend rules and regulations relating to the administration of this Plan, provided that absent the adoption of any formal rules, the acts of a majority of the members of the Administrator at a meeting, or
acts approved in writing by all Administrator members, are valid acts of the Administrator. 
  

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 4.3 Responsibilities. Except as stated elsewhere in this Plan, the Administrator has
full discretionary authority to determine all matters relating to Options, including but not limited to (a) the selection of Eligible Participants to receive Options, (b) the number of shares subject to each Option, (c) the Exercise
Price to be paid for any Option, (d) any vesting or forfeiture schedule, (e) the acceleration of the exercise date, and (f) the extension of the exercise period. In exercising its authority to set the terms and conditions of an
Option, and subject only to the limits of applicable law, the Administrator shall be under no obligation or duty to treat similarly situated Optionees in the same manner, and any action taken by the Administrator with respect to the grant of an
Option to one individual shall in no way obligate the Administrator to take the same or similar action with respect to any other individual. The Administrator may exercise its discretion in a manner such that Options granted to individuals who are
foreign nationals or are employed outside the United States contain terms and conditions that are different from the provisions otherwise anticipated in this Plan, but which are consistent with the tax and other laws of applicable foreign
jurisdictions and consistent with the Company’s objectives in establishing this Plan. 
 4.4 Plan Construction and
Interpretation. Subject to Section 4.5, the Administrator may correct any defect, supply any omission, or reconcile any inconsistency (a) within this Plan, (b) between this Plan and any related agreement, or (c) between this
Plan and any rule or regulation promulgated under this Plan, in the manner and to the extent the Administrator deems appropriate to carry out this Plan. The Administrator’s interpretation or construction of any such Plan provision, related
agreement, rule or regulation shall be final, conclusive and binding on all interested parties. 
 4.5 Amendment of
Options. The Administrator may modify or amend outstanding Options granted under this Plan. The modification or amendment of an outstanding Option shall not, without the consent of the Optionee, impair, diminish or terminate any of the rights of
the Optionee or any of the obligations of the Company under the Option, except as otherwise provided in this Plan, or as required to comply with applicable law. Unless the Optionee agrees otherwise, any changes or adjustments made to outstanding
ISOs granted under this Plan will be made in a manner so as not to constitute a “modification,” as defined in Code § 424(h), and so as not to cause any ISO to fail to continue to qualify under Code § 422(b). 

SECTION 5. Options and Eligible Participants. 

5.1 Types. Subject to Section 4, the Administrator may, from time to time, grant under this Plan (i) incentive stock
options (also referred to as “ISOs”), as defined in Code § 422, or (ii) options that do not qualify as ISOs (referred to as “nonqualified stock options” or “NQSOs”). ISOs and NQSOs may be granted singly or in
combination. 
 5.2 Eligible Participants. The Administrator, as it determines from time to time, may grant Options to
officers, directors and employees of the Company and its Related Entities. The Administrator may also grant Options to consultants, agents, advisors and independent contractors who provide services to the Company or its Related Entities, or both,
provided that such Option recipients (a) render bona fide services that are not in connection with the offer and sale of the Company’s securities in a capital-raising transaction, and (b) render bona fide services that do not directly
or indirectly promote or maintain a market for the Company’s securities. 
 5.3 Terms and Conditions. The terms and
conditions of Options granted under this Plan need not be identical in any respect, even when grants are made simultaneously or to persons with the same or similar status. 

SECTION 6. Provisions Applicable to All Options. The provisions of this Section 6 apply to both ISOs and NQSOs.

  

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 6.1 Option Agreement. Each Option will be evidenced by an Option Agreement that
incorporates this Plan by reference and describes the terms and conditions of the Option. In particular, the Option Agreement will specify the number of shares of Company Stock that may be purchased, whether the Option is an ISO or a NQSO, the
Option’s expiration date, the schedule (if any) under which the Option may be exercised, the Exercise Price, and any other terms, conditions, restrictions, representations or warranties required by the Administrator. 

6.2 Exercise Price. The Administrator will determine the Exercise Price of NQSOs and ISOs, provided that subject to the
requirements of Section 7, the per share Exercise Price with respect to an ISO will be at least the Fair Market Value of a share of the Common Stock as of the Grant Date. 

6.3 Term. The term of each Option will be ten years from the Grant Date, unless a shorter period is required under Section 7
or the Administrator establishes a shorter period of time. 
 6.4 Vesting. To ensure the Company achieves the purposes
and receives the benefits contemplated in this Plan, any Option granted under this Plan shall, unless the condition of this Section 6.4 is waived or modified in the Option Agreement or by action of the Administrator, be exercisable according to
the following schedule: 
  

			
	 Period of Optionee’s Continuous

Service Relationship With the
 Company
or Related Entity
 From The Grant Date
	  	Portion of Total Option
That Is
Exercisable
	 Less than 1 year
	  	0%
	 Completion of 1 year
	  	25%
	 Each additional month
	  	An additional 1/48th

	 After 4 years
	  	100%

 For purposes of
calculating an “additional month,” the Administrator will measure from the anniversary date of the one-year period (or other applicable date) and go to the same date of the following month (or if there is not the same date in the following
month, then to the last day of the following month). 
 6.5 Exercise. The Recipient may exercise Options by delivering
written notice to the Administrator of the number of shares sought to be exercised, together with payment of the Exercise Price. The Administrator may specify the form of such notice and the manner of its delivery. Subject to any vesting schedule in
the Option Agreement and to any additional holding period required by law, the Optionee may exercise each Option in whole or in part, except that only whole shares of Common Stock will be issued pursuant to the exercise of any Option. 

6.6 Payment of Exercise Price. An Optionee must pay the Exercise Price in full at the time of exercise. Payment of the Exercise
Price shall be in cash, by bank certified or cashier’s check or by personal check (unless at the time of exercise the Administrator in a particular case determines not to accept a personal check). The Administrator may determine in its complete
discretion, as of the Grant Date for ISOs or at any time before exercise for NQSOs, that alternative forms of payment will be permitted, including but not limited to installment payments on such terms as the Administrator may determine or various
cashless exercise arrangements. Unless otherwise provided by the Administrator, an Option may not be exercised by tender to the Company, or attestation to the ownership, of shares of Common Stock unless the shares either have been owned by the
Optionee for more than six months (and were not used for another Option exercise by attestation during that period) or were not acquired, directly or indirectly, from the Company. 

 

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 SECTION 7. Provisions applicable to ISOs Only. ISOs are subject to the
following terms and conditions, in addition to the provisions of Section 6: 
 7.1.1 Greater than 10% Shareholders.
If the Company grants ISOs to an employee who owns more than 10% of the total combined voting power of all classes of stock of the Company, with stock ownership to be determined in light of the attribution rules set forth in Code § 424(d), the
term of such ISO may not exceed five years and the Exercise Price may be not less than 110% of the Fair Market Value of the Common Stock on the ISO’s Grant Date. To the extent an Option purports to be an ISO but exceeds these limits, the Option
will be deemed to be a NQSO. 
 7.1.2 Limitation on Value. The aggregate Fair Market Value of all shares available under
ISOs (under this Plan and any other incentive stock option plan of the Company or a Related Entity) that are exercisable for the first time in any calendar year may not exceed $100,000. For purposes of this limit, Fair Market Value is measured as of
the Grant Date of the applicable Option. To the extent Options are granted as ISOs but exceed the $100,000 threshold, the Options beyond the $100,000 threshold (starting with the most recent grants) shall be treated as NQSOs. If the Code is amended
to provide for a different limitation from that set forth in this Section 7.1.2, then that different limitation will be deemed incorporated into this Plan, effective as of the date and with respect to those Options as dictated by the applicable
amendment to the Code. If an Option is treated as possessing both ISOs and NQSOs by virtue of the limitation of this Section 7.1.2, then upon exercise the Optionee may designate whether the portion being exercised constitutes ISOs or NQSOs (or
both). In the absence of a designation by the Optionee, the Optionee will be deemed to have first exercised the ISO portion of the Option. The Plan Administrator may direct that separate certificates be issued to reflect the exercise of ISOs versus
the exercise of NQSOs. 
 SECTION 8. Employment with Related Entities. For purposes of this Plan, being engaged in
employment or other service relationship with a Related Entity constitutes employment or other service relationship with the Company. In particular, the provisions of Section 9, below, shall apply by using the terms “Company” and
“Related Entity” interchangeably. A transfer between the Company and one or more Related Entities will not constitute a termination of employment or other service relationship with the Company (provided that pursuant to Section 9.5, a
change in status from an employee to a non-employee worker will constitute a termination of employment for federal tax purposes with respect to ISOs). 

SECTION 9. Termination of Relationship with Company. Except as provided otherwise in the applicable Option Agreement, all
Options that are unvested automatically expire upon termination of an Optionee’s employment or other service relationship with the Company for any reason. And except as provided otherwise in the applicable Option Agreement, the effect of a
termination of employment or other service relationship upon vested Options is as follows: 
 9.1 Termination For Cause. 

 9.1.1 Effect Upon Options. If the Company terminates an Optionee’s employment or other service relationship for
Cause, then, as of the Company’s first discovery of any of the grounds for termination for Cause, any Option held by that Optionee shall automatically terminate. If an Optionee is suspended pending an investigation of whether or not the
Optionee will be terminated for Cause, then all of the Optionee’s rights under any Option will also be suspended during the period of investigation. 

9.1.2 Definition of Cause. Termination for “Cause” means the Optionee’s (a) willful refusal to perform his
obligations to the Company, (b) willful misconduct contrary to the interests of the Company, (c) commission of a serious criminal act whether denominated a felony, misdemeanor or otherwise, or (d) engaging in activities directly in
competition or antithetical to the best interests of the Company. To the extent an Optionee is a party to an employment agreement or offer letter of employment with the Company that defines “cause” or a similar term, then the meaning set
forth in that agreement shall also be considered “Cause” for purposes of this Plan. 
  

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 9.2 Termination Because of Total Disability. If an Optionee’s employment or
other service relationship with the Company terminates because of a “Total Disability,” as defined below, then the Optionee’s vested Options (determined as of the termination) shall not expire (and any ISOs will not cease to be
treated as ISOs) until the sooner of (i) the end of the 12-month period following such termination or (ii) the normal expiration date of the Option. For purposes of this Plan, Total Disability means a mental or physical impairment that
(a) causes an individual to be unable to engage in any substantial gainful activity, after reasonable accommodation, and (b) is expected to result in death or has lasted or is expected to last for a continuous period of 12 months or more.
The status of Total Disability will be determined by the Administrator and, if requested by the affected Optionee, two independent physicians, and shall be deemed to exist on the first day after the Administrator (and the two independent physicians,
if applicable) reach the conclusion. The application of this Section 9.2 will not accelerate the vesting of Options. 

9.3 Termination Because of, or Shortly Before, Death. If an Optionee dies (a) while still engaged in a service relationship
with the Company or (b) within the 60-day period (or 12-month period in the case of Total Disability) following cessation of such relationship, then any vested Options may be exercised at any time prior to (i) the end of the 12-month
period following the death or (ii) the regular expiration date applicable to the Option, whichever is earlier. The application of this Section 9.3 will not accelerate the vesting of Options. The vested portion of the Option (determined as
of the Optionee’s date of death) may be exercised by the personal representative or the person to whom the Optionee’s rights pass by will or by the laws of descent and distribution. 

9.4 Other Terminations. If an Optionee’s relationship with the Company terminates for a reason other than Cause, death, or
Total Disability, the Optionee may exercise outstanding Options until the earlier of (a) the end of the 60-day period following termination of an Optionee’s employment or other service relationship with the Company, or (b) the
expiration date stated in the Option Agreement, after which all unexercised Options will expire. However, the Administrator may extend the exercise period, in its the sole discretion, provided that ISOs exercised beyond the three-month period
following termination of an Optionee’s employment with the Company will be treated as NQSOs. Unless provided otherwise in an individual Option Agreement, an Optionee’s change in status from being an employee to a non-employee worker (such
as a consultant) will not constitute a termination of the Optionee’s employment with the Company for purposes of applying the provisions of this Section 9.4 to any ISOs held by the Optionee, provided that the Optionee’s exercise of
any ISO beyond the three-month period following the change of the Optionee’s status from being an employee to a non-employee worker will be treated as the exercise of a NQSO. 

9.5 Military Leave, Sick Leave and Bona Fide Leave of Absence. To the extent determined by the Administrator, an Optionee’s
employment or other working relationship with the Company may be deemed to continue while the Optionee is on military leave, sick leave or other bona fide leave of absence. However, with respect to ISOs, employment will not be deemed to continue
beyond the first 90 days of leave, unless the individual’s reemployment rights are guaranteed by statute or by contract. 
  

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 SECTION 10. Options Not Transferable. Options are personal to the Optionee
during the Optionee’s lifetime and may not be transferred, assigned, pledged, attached or otherwise disposed of in any manner, except by will or the laws of descent and distribution, and provided further that to the extent authorized by the
Administrator, on a case by case basis, an Optionee may transfer NQSOs into a revocable trust created by the Optionee for the benefit of the Optionee’s descendants, to an immediate family member, or to a partnership in which only immediate
family members or such trusts are partners. Any attempt to transfer, assign, pledge, attach or otherwise dispose of any Option contrary to this Section 10 will be null and void. 

SECTION 11. Changes in Company’s Capital Structure. 

11.1 Adjustments Upon Changes in Capitalization. In the event of any merger, consolidation, reorganization, stock split, stock
dividend or other event causing a capital adjustment affecting the number of outstanding shares of Common Stock (“Capitalization Change”), the Administrator will make corresponding adjustments to preserve the relative value of Options. To
that end the Administrator will make adjustments, as necessary, in: (a) the aggregate number or kind of shares for which Options may be granted under this Plan; (b) the number or kind of shares covered by any outstanding Options under this
Plan; and (c) other terms of this Plan or outstanding Options that merit a change in conjunction with the Capitalization Change. Any fractional shares resulting from an adjustment will be disregarded. In the event the Company issues additional
shares of Common Stock for consideration (including non-cash consideration), neither the total amount of shares subject to this Plan, nor the amount of shares subject to any outstanding Option, will be adjusted. The Administrator’s
determination as to what adjustments should be made and the extent of the adjustments will be final, binding and conclusive. 

11.2 Effect of Sale, Merger or Exchange. 

11.2.1 Termination of Options. Subject to Section 11.2.2, upon the occurrence of a “Sales Event” (as defined below)
any unexercised Options will expire and cease to be effective, provided that Optionees will have advance notice and an opportunity prior to the Sales Event to exercise any vested Options. In the alternative, at the complete discretion of the
Administrator, the Company may (at its discretion) (i) determine to cash out some or all of the unexercised, vested Options by paying each affected Optionee an amount equal to the Fair Market Value of a share of Common Stock (as determined for
purposes of the Sales Event), multiplied by the number of shares of Common Stock available under the vested portion of the Optionee’s Option, reduced by the aggregate Exercise Price associated with that portion of the Option, or
(ii) continue some or all of the Options, subject to the same terms and conditions (including the vesting schedule, if any) that applied prior to the Sales Event, modified as deemed appropriate by the Administrator in conjunction with the Sales
Event. For purposes of this Plan a “Sales Event” will include (a) a complete liquidation of the Company, (b) a sale of the Company’s stock after which voting control of the Company is held by persons who were not
shareholders of the Company prior to the sale or a sale of substantially all of the Company’s assets, or (c) a merger, consolidation, reorganization or other similar event (other than an initial public offering) in which the Company is not
the surviving entity. Unless provided otherwise in the applicable Option Agreements, or pursuant to an action of the Board, the vesting schedules applicable to outstanding Options will not accelerate in connection with a Sales Event. 

11.2.2 Conversion on Stock for Stock Exchange. If pursuant to a Sales Event the shareholders of the Company receive capital stock
of another corporation (“Exchange Stock”) in exchange for their shares of Common Stock, then the Company and the corporation issuing the Exchange Stock may (at their discretion) provide that any unexercised Options under this Plan will be
converted into options to purchase shares of Exchange Stock. The number of shares and exercise price of options for Exchange Stock will be determined by adjusting the number of shares and Exercise Price of the unexercised Options in the same
proportion as used for determining the number of shares of Exchange Stock that the shareholders of Common Stock receive in the transaction. Other than the potential changes to the Exercise Price and number of shares of the outstanding Options, all
of the terms and conditions relating to the converted Options under this Plan shall apply to options for the Exchange Stock, unless otherwise determined by the Administrator. 

 

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 11.3 No Restriction on Ability to Accomplish Corporate Changes. This Plan and Options
granted hereunder will not in anyway limit the right or power of the Company, or its stockholders, to make or authorize any or all adjustments in connection with recapitalizations, reorganizations or other changes in the Company’s structure or
its business, or any merger or consolidation of the Company, or any issuance of stock or of options, warrants or rights to purchase stock or bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the Common
Stock or rights of holders thereof or which are convertible into or exchangeable for Common Stock, the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any corporate act or
proceeding, whether of a similar character or otherwise. 
 SECTION 12. Securities Regulation and Other Required
Approvals. The Company shall not issue shares subject to an Option unless the exercise, issuance and delivery of such shares comply with all relevant provisions of law, including any applicable state securities laws, the Securities Act, the
Exchange Act, any relevant securities rules and regulations, and the requirements of any stock exchange upon which the shares may then be listed. The issuance of shares shall be further subject to the approval of counsel for the Company with respect
to such compliance, including the availability of an exemption from registration for the issuance and sale of any shares under this Plan. 

12.1 Effect of Lack of Authority. The Company will use its best efforts to obtain from the appropriate regulatory agencies any
requisite authorization in order to issue the number of shares of its Common Stock as needed to satisfy the requirements of this Plan. The Company’s inability to obtain the authority that Company’s counsel deems to be necessary for the
lawful issuance of any shares under this Plan, or the unavailability of an exemption from registration for the issuance and sale of any shares under this Plan, shall relieve the Company of any liability with respect to the non-issuance of such
shares. 
 12.2 Section 16(b) Compliance; Bifurcation of Plan. In the event the Company registers
any of its equity securities pursuant to Section 12(b) or 12(g) of the Exchange Act, this Plan and the Options granted under this Plan shall comply in all respects with Rule 16b-3 under the Exchange Act (or any successor rule). If any Plan provision
is later found not to be in compliance with Rule16b-3, the provision shall be deemed null and void, or if possible construed in favor of its meeting the requirements of Rule 16b-3. Notwithstanding anything in this Plan to the contrary, the
Administrator, in its absolute discretion, may bifurcate this Plan so as to restrict, limit or condition the use of any provision of this Plan to Optionees who are officers and directors subject to Section 16(b) of the Exchange Act without so
restricting, limiting or conditioning other Optionees. This provision shall not obligate the Company to undertake registration of any of the Options or shares of Common Stock. 

12.3 Representations and Warranties. As a condition to granting any Option, the Company may require the recipient to make any
representation or warranty to the Company as may be required, in the judgment of the Company, including executing and delivering to the Company an agreement as may from time to time be necessary to comply with federal and state securities laws. At
the election of the Company, a stop-transfer order against any shares of stock may be placed on the official stock books and records of the Company, and a legend may be stamped on stock certificates indicating that the stock may not be pledged, sold
or otherwise transferred unless an opinion of counsel is provided (concurred in by counsel for the Company) stating that such transfer is not in violation of any applicable law or regulation. 

 

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 12.4 Legends on Option Agreements and Stock Certificates. Unless an appropriate
registration statement is filed pursuant to the Securities Act, with respect to the shares of Common Stock issued under this Plan, each certificate representing such Common Stock shall be endorsed with the following legend or its equivalent:

 The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the
“Act”) and may not be sold, assigned, offered or otherwise transferred unless (a) there is an effective registration statement under the Act, or (b) the Company receives an opinion of legal counsel for the holder of these
securities (concurred in by legal counsel for the Company) stating that the transaction is exempt from registration or the Company otherwise satisfies itself that the transaction is exempt from registration. 

In addition to this legend, each Option Agreement and each certificate representing shares of Common Stock acquired through an Option shall be endorsed
with all legends, if any, which are required by applicable state securities laws and the Administrator. 
 SECTION 13.
Withholding Tax Requirement. The Company will have the right to retain and withhold from any payment of cash, or shares of Common Stock, the amount of taxes required by any government to be withheld. The Company may require an individual
receiving cash or shares of Common Stock under this Plan to advance or reimburse the Company for any such taxes required to be withheld and may withhold any distribution in whole or in part until the Company is so reimbursed. In lieu of withholding
or reimbursement, the Company has the right to withhold from any other cash amounts due or to become due from the Company to the individual in an amount equal to the taxes, or to retain and withhold a number of shares having a market value not less
than the amount of the taxes required to be withheld as reimbursement for any taxes and cancel (in whole or in part) any shares so withheld. 

SECTION 14. Status of Shareholder. No Optionee, nor any party to which an Optionee’s rights and privileges may pass,
will have any of the rights or privileges of a shareholder of the Company with respect to the shares related to an Option unless, until and to the extent the Option has been properly exercised for shares. 

SECTION 15. Rights and Relationships. 

15.1 This Plan. This Plan is purely voluntary on the part of the Company. The adoption or continuance of this Plan will not be
deemed to constitute a commitment to Eligible Participants by the Company to continue this Plan. 
 15.2 No Employment
Contract. Nothing in this Plan, nor in any Option granted pursuant to this Plan, shall give any Optionee any right to continued employment with the Company or a Related Entity, or to interfere in any way with the right of the Company (or Related
Entity) to terminate the Optionee’s employment or service relationship with the Company at any time. 
 15.3 Other
Agreements. To the extent required by the Administrator, each person who receives shares as a result of any Option shall agree to enter into and be bound by the shareholders agreement then in effect, if any, or other similar agreement between
the Company and its shareholders relating to the repurchase by the shareholders and/or the Company of outstanding shares of Common Stock. In addition, as required by the Administrator, shares available through Options may be subject to restrictions
on the transfer of the shares or commitments regarding the Company’s repurchase of the Optionee’s shares, which restrictions or commitments may be a condition of the delivery of certificates representing shares to the Optionee. 

SECTION 16. Amendment and Termination. 

16.1 Board Action. The Board may at any time suspend, amend or terminate this Plan, provided that the approval of the
Company’s shareholders is necessary within 12 months before or after the adoption by the Board of any amendment which will (a) increase the number of shares reserved for the issuance of Options under this Plan; or (b) permit the
granting of Options to a class of persons other than those presently permitted to receive Options under this Plan. 
  

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 16.2 Automatic Termination. Unless sooner terminated by the Board, this Plan shall
terminate ten years from the earlier of (a) the date on which this Plan is adopted by the Board or (b) the date on which this Plan is approved by the shareholders of the Company. 

16.3 Effect. No Option may be granted after the termination or during any suspension of this Plan. In addition, no amendment,
suspension or termination of this Plan shall adversely affect Options granted on or prior to the date thereof, without the consent of the Optionees, unless expressly provided for in this Plan or a particular Option Agreement. 

SECTION 17. Applicable Law. This Plan shall be governed and construed in accordance with the laws of the State of Oregon.

 SECTION 18. Effectiveness of This Plan. This Plan shall become effective upon adoption by the Board, so long as
it is approved by the Company’s shareholders any time within 12 months before or after the adoption of this Plan. 
  

 12Symyx Technologies, Inc. 2001 Nonstatutory Stock Option Plan

 EXHIBIT 4.5 

SYMYX TECHNOLOGIES, INC. 

2001 NONSTATUTORY STOCK OPTION PLAN 

1. Purposes of the Plan. The purposes of this Nonstatutory Stock Option Plan are: 

 

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility, 

 

	 	•	 	 to provide additional incentive to Employees, Directors and Consultants, and 

 

	 	•	 	 to promote the success of the Company’s business. 

    Options granted under the Plan will be Nonstatutory Stock Options. 

2. Definitions. As used herein, the following definitions shall apply: 

(a) “Administrator” means the Board or any of its Committees as shall be administering the Plan, in accordance with
Section 4 of the Plan. 
 (b) “Applicable Laws” means the requirements relating to the administration of stock
option plans under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where
Options are, or will be, granted under the Plan. 
 (c) “Board” means the Board of Directors of the Company.

 (d) “Code” means the Internal Revenue Code of 1986, as amended. 

(e) “Committee” means a committee of Directors appointed by the Board in accordance with Section 4 of the Plan.

 (f) “Common Stock” means the Common Stock of the Company. 

(g) “Company” means Symyx Technologies, Inc. a Delaware corporation. 

(h) “Consultant” means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render services to
such entity. 
 (i) “Director” means a member of the Board. 

(j) “Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code. 

 (k) “Employee” means any person, including Officers, employed by the Company or
any Parent or Subsidiary of the Company. A Service Provider shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the Company, its
Parent, any Subsidiary, or any successor. Neither service as a Director nor payment of a director’s fee by the Company shall be sufficient to constitute “employment” by the Company. 

(l) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(m) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 

(i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq
National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the last market
trading day prior to the time of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market
Value of a Share of Common Stock shall be the mean between the high bid and low asked prices for the Common Stock on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable; 
 (iii) In the absence of an established market for the Common Stock, the Fair Market Value
shall be determined in good faith by the Administrator. 
 (n) “Notice of Grant” means a written or electronic notice
evidencing certain terms and conditions of an individual Option grant. The Notice of Grant is part of the Option Agreement. 

(o) “Officer” means a person who is an officer of the Company within the meaning of Section 16 of the Exchange Act and the
rules and regulations promulgated thereunder. 
 (p) “Option” means a nonstatutory stock option granted pursuant to
the Plan, that is not intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 

(q) “Option Agreement” means an agreement between the Company and an Optionee evidencing the terms and conditions of an
individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan. 
 (r) “Option Exchange
Program” means a program whereby outstanding options are surrendered in exchange for options with a lower exercise price. 
  

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 (s) “Optioned Stock” means the Common Stock subject to an Option. 

(t) “Optionee” means the holder of an outstanding Option granted under the Plan. 

(u) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of
the Code. 
 (v) “Plan” means this 2001 Nonstatutory Stock Option Plan. 

(w) “Service Provider” means an Employee including an Officer, Consultant or Director. 

(x) “Share” means a share of the Common Stock, as adjusted in accordance with Section 12 of the Plan. 

(y) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code. 
 3. Stock Subject to the Plan. Subject to the provisions of Section 12 of the Plan, the
maximum aggregate number of Shares which may be optioned and sold under the Plan is One Million (1,000,000) Shares. The Shares may be authorized, but unissued, or reacquired Common Stock. 

If an Option expires or becomes unexercisable without having been exercised in full, or is surrendered pursuant to an Option Exchange
Program, the unpurchased Shares which were subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated). 

4. Administration of the Plan. 

(a) Administration. The Plan shall be administered by (i) the Board or (ii) a Committee, which committee shall be constituted to
satisfy Applicable Laws. 
 (b) Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a
Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its discretion: 

(i) to determine the Fair Market Value of the Common Stock; 

(ii) to select the Service Providers to whom Options may be granted hereunder; 

(iii) to determine whether and to what extent Options are granted hereunder; 

(iv) to determine the number of shares of Common Stock to be covered by each Option granted hereunder; 

 

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 (v) to approve forms of agreement for use under the Plan; 

(vi) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any award granted hereunder. Such terms and
conditions include, but are not limited to, the exercise price, the time or times when Options may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or
limitation regarding any Option or the shares of Common Stock relating thereto, based in each case on such factors as the Administrator, in its sole discretion, shall determine; 

(vii) to reduce the exercise price of any Option to the then current Fair Market Value if the Fair Market Value of the Common Stock
covered by such Option shall have declined since the date the Option was granted; 
 (viii) to institute an Option Exchange
Program; 
 (ix) to construe and interpret the terms of the Plan and awards granted pursuant to the Plan; 

(x) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of qualifying for preferred tax treatment under foreign tax laws; 
 (xi) to modify or amend each
Option (subject to Section 14(b) of the Plan), including the discretionary authority to extend the post-termination exercisability period of Options longer than is otherwise provided for in the Plan; 

(xii) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Option previously
granted by the Administrator; 
 (xiii) to determine the terms and restrictions applicable to Options; 

(xiv) to allow Optionees to satisfy withholding tax obligations by electing to have the Company withhold from the Shares to be issued
upon exercise of an Option that number of Shares having a Fair Market Value equal to the amount required to be withheld. The Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be withheld is to
be determined. All elections by an Optionee to have Shares withheld for this purpose shall be made in such form and under such conditions as the Administrator may deem necessary or advisable; and 

(xv) to make all other determinations deemed necessary or advisable for administering the Plan. 

(c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations shall be final and
binding on all Optionees and any other holders of Options. 
  

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 5. Eligibility. Options may be granted to Service Providers; provided, however, that
notwithstanding anything to the contrary contained in the Plan, Options may not be granted to Officers and Directors. 
 6.
Limitation. Neither the Plan nor any Option shall confer upon an Optionee any right with respect to continuing the Optionee’s relationship as a Service Provider with the Company, nor shall they interfere in any way with the Optionee’s
right or the Company’s right to terminate such relationship at any time, with or without cause. 
 7. Term of Plan. The
Plan shall become effective upon its adoption by the Board. It shall continue in effect for ten (10) years, unless sooner terminated under Section 14 of the Plan. 

8. Term of Option. The term of each Option shall be stated in the Option Agreement. 

9. Option Exercise Price and Consideration. 

(a) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option shall be determined by the
Administrator. 
 (b) Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator shall fix the
period within which the Option may be exercised and shall determine any conditions which must be satisfied before the Option may be exercised. 

(c) Form of Consideration. The Administrator shall determine the acceptable form of consideration for exercising an Option, including the
method of payment. Such consideration may consist entirely of: 
 (i) cash; 

(ii) check; 

(iii) promissory note; 

(iv) other Shares which (A) in the case of Shares acquired upon exercise of an option, have been owned by the Optionee for more
than six months on the date of surrender, and (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised; 

(v) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan;

 (vi) a reduction in the amount of any Company liability to the Optionee, including any liability attributable to the
Optionee’s participation in any Company-sponsored deferred compensation program or arrangement; 
  

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 (vii) such other consideration and method of payment for the issuance of Shares to the
extent permitted by Applicable Laws; or 
 (viii) any combination of the foregoing methods of payment. 

10. Exercise of Option. 

(a) Procedure for Exercise; Rights as a Shareholder. Any Option granted hereunder shall be exercisable according to the terms of the Plan
and at such times and under such conditions as determined by the Administrator and set forth in the Option Agreement. An Option may not be exercised for a fraction of a Share. 

An Option shall be deemed exercised when the Company receives: (i) written or electronic notice of exercise (in accordance with the
Option Agreement) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised. Full payment may consist of any consideration and method of payment authorized by the
Administrator and permitted by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of the Optionee or, if requested by the Optionee, in the name of the Optionee and his or her spouse. Until the
Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a shareholder shall exist with respect to the
Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is
prior to the date the Shares are issued, except as provided in Section 12 of the Plan. 
 Exercising an Option in any
manner shall decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 

(b) Termination of Relationship as a Service Provider. If an Optionee ceases to be a Service Provider, other than upon the
Optionee’s death or Disability, the Optionee may exercise his or her Option, but only within such period of time as is specified in the Option Agreement, and only to the extent that the Option is vested on the date of termination (but in no
event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for three (3) months following the Optionee’s
termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or
her Option within the time specified by the Administrator, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 

(c) Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee
may exercise his or her Option within such period of time as is specified in the Option Agreement, to the extent the Option is vested on the date of 

 

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termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option
shall remain exercisable for twelve (12) months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall
revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 

(d) Death of Optionee. If an Optionee dies while a Service Provider, the Option may be exercised within such period of time as is
specified in the Option Agreement (but in no event later than the expiration of the term of such Option as set forth in the Notice of Grant), by the Optionee’s estate or by a person who acquires the right to exercise the Option by bequest or
inheritance, but only to the extent that the Option is vested on the date of death. In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s
termination. If, at the time of death, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall immediately revert to the Plan. The Option may be exercised by the executor or
administrator of the Optionee’s estate or, if none, by the person(s) entitled to exercise the Option under the Optionee’s will or the laws of descent or distribution. If the Option is not so exercised within the time specified herein, the
Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 
 (e) Buyout Provisions. The
Administrator may at any time offer to buy out for a payment in cash or Shares, an Option previously granted based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that such offer is made.

 11. Non-Transferability of Options. Unless determined otherwise by the Administrator, an Option may not be sold, pledged,
assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee. If the Administrator makes an Option
transferable, such Option shall contain such additional terms and conditions as the Administrator deems appropriate. 
 12.
Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset Sale. 
 (a) Changes in Capitalization. Subject to any
required action by the shareholders of the Company, the number of shares of Common Stock covered by each outstanding Option, and the number of shares of Common Stock which have been authorized for issuance under the Plan but as to which no Options
have yet been granted or which have been returned to the Plan upon cancellation or expiration of an Option, as well as the price per share of Common Stock covered by each such outstanding Option, shall be proportionately adjusted for any increase or
decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of
Common Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such
adjustment shall be made 
  

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by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Option. 

(b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator shall notify
each Optionee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for an Optionee to have the right to exercise his or her Option until ten (10) days prior to such
transaction as to all of the Optioned Stock covered thereby, including Shares as to which the Option would not otherwise be exercisable. In addition, the Administrator may provide that any Company repurchase option applicable to any Shares purchased
upon exercise of an Option shall lapse as to all such Shares, provided the proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised, an Option will terminate
immediately prior to the consummation of such proposed action. 
 (c) Merger or Asset Sale. In the event of a merger of the
Company with or into another corporation, or the sale of substantially all of the assets of the Company, each outstanding Option shall be assumed or an equivalent option or right substituted by the successor corporation or a Parent or Subsidiary of
the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Option, the Optionee shall fully vest in and have the right to exercise the Option as to all of the Optioned Stock, including Shares as to
which it would not otherwise be vested or exercisable. If an Option becomes fully vested and exercisable in lieu of assumption or substitution in the event of a merger or sale of assets, the Administrator shall notify the Optionee in writing or
electronically that the Option shall be fully vested and exercisable for a period of fifteen (15) days from the date of such notice, and the Option shall terminate upon the expiration of such period. For the purposes of this paragraph, the
Option shall be considered assumed if, following the merger or sale of assets, the option or right confers the right to purchase or receive, for each Share of Optioned Stock, immediately prior to the merger or sale of assets, the consideration
(whether stock, cash, or other securities or property) received in the merger or sale of assets by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type
of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such consideration received in the merger or sale of assets is not solely common stock of the successor corporation or its Parent, the
Administrator may, with the consent of the successor corporation, provide for the consideration to be received upon the exercise of the Option, for each Share of Optioned Stock to be solely common stock of the successor corporation or its Parent
equal in fair market value to the per share consideration received by holders of Common Stock in the merger or sale of assets. 

13. Date of Grant. The date of grant of an Option shall be, for all purposes, the date on which the Administrator makes the determination
granting such Option, or such other later date as is determined by the Administrator. Notice of the determination shall be provided to each Optionee within a reasonable time after the date of such grant. 

 

 -8- 

 14. Amendment and Termination of the Plan. 

(a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 

(b) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan shall impair the rights of any
Optionee, unless mutually agreed otherwise between the Optionee and the Administrator, which agreement must be in writing and signed by the Optionee and the Company. Termination of the Plan shall not affect the Administrator’s ability to
exercise the powers granted to it hereunder with respect to options granted under the Plan prior to the date of such termination. 

15. Conditions Upon Issuance of Shares. 

(a) Legal Compliance. Shares shall not be issued pursuant to the exercise of an Option unless the exercise of such Option and the issuance
and delivery of such Shares shall comply with Applicable Laws and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

(b) Investment Representations. As a condition to the exercise of an Option the Company may require the person exercising such Option to
represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation
is required. 
 16. Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body
having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares
as to which such requisite authority shall not have been obtained. 
 17. Reservation of Shares. The Company, during the term of
this Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. 
  

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