SEC Contract Filing

Filing Date: 2016-03-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.24
<SEQUENCE>2
<FILENAME>slgd-ex1024_239.htm
<DESCRIPTION>EX-10.24
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<title>
slgd-ex1024_239.htm
</title>
</head>
<!-- NG Converter v4.0.3.7 -->
<body>

<p style="text-align:right;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-weight:bold;font-family:Times New Roman Bold;font-variant: small-caps;font-style:normal;text-transform:none;">EXHIBIT 10.24</p>
<p style="text-align:center;margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:14pt;font-family:Times New Roman Bold;font-variant: small-caps;font-style:normal;text-transform:none;">SCOTT&#8217;S LIQUID GOLD-INC.<br>2015 EQUITY AND INCENTIVE PLAN<br>INCENTIVE STOCK OPTION AGREEMENT</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This Incentive Stock Option Agreement (the &#8220;Agreement&#8221;) is made and entered into as of the Grant Date specified below, and between Scott&#8217;s Liquid Gold-Inc. (the &#8220;Company&#8221;), and the named Participant (&#8220;Participant&#8221;), an employee of the Company or an Affiliate thereof.</p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Participant:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="text-decoration:underline;margin-left:324pt;"></font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Grant Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration:underline;margin-left:324pt;"></font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Exercise Price per Share: &nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration:underline;margin-left:324pt;"></font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Number of Option Shares: &nbsp;&nbsp;<font style="text-decoration:underline;margin-left:324pt;"></font></p>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Expiration Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="text-decoration:underline;margin-left:324pt;"></font></p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.69%;white-space:nowrap">
<p style="margin-bottom:12pt;margin-top:0pt;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:none;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td>
<td valign="top">
<p style="margin-bottom:12pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="text-decoration:none;"></font><font style="text-decoration:underline;">Grant of Option.</font></p></td></tr></table></div>
<p style="margin-bottom:12pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company<font style="font-weight:bold;"> </font>hereby grants to the Participant an option (the &#8220;Option&#8221;) to purchase the total number of shares of Common Stock of the Company equal to the number of Option Shares set forth above, at the Exercise Price set forth above. The Option is being granted pursuant to the terms of the Company's 2015 Equity and Incentive Plan (the &#8220;Plan&#8221;). The Option and this Agreement are subject to and shall be construed in accordance with the terms and conditions of the Plan, as now or hereinafter in effect. Any terms which are used in this Agreement without being defined and which are defined in the Plan shall have the meaning specified in the Plan. In the event of any conflict between this Agreement and the Plan, the terms of the Plan will govern and prevail. The Option is intended to be an Incentive Stock Option within the meaning of Section 422 of the Code, although the Company makes no representation or guarantee that the Option will qualify as an Incentive Stock Option. To the extent that the aggregate Fair Market Value (determined on the Grant Date) of the shares of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and its Affiliates) exceeds $100,000, the Options or portions thereof which exceed such limit (according to the order in which they were granted) will be treated as Non-qualified Stock Options.</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:7.69%;white-space:nowrap">
<p style="margin-bottom:12pt;margin-top:0pt;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: norma