Exhibit 10.3
Meta Materials Inc.
2021 EQUITY INCENTIVE PLAN
STOCK OPTION AGREEMENT
Unless otherwise defined herein, the terms defined in the Meta Materials Inc. 2021 Equity Incentive Plan (the “Plan”) will have the same defined meanings in this Stock Option Agreement, which includes the Notice of Stock Option Grant (the “Notice of Grant”), the Terms and Conditions of Stock Option Grant attached hereto as Exhibit A, and all appendices and exhibits attached thereto (all together, the “Option Agreement”).
NOTICE OF STOCK OPTION GRANT
Participant:
Address:
The undersigned Participant has been granted an Option to purchase Common Stock of Meta Materials Inc. (the “Company”), subject to the terms and conditions of the Plan and this Option Agreement, as follows:
Grant Number:
Date of Grant:
Vesting Commencement Date:
Number of Shares Granted:
Exercise Price per Share: $
Total Exercise Price: $
Type of Option: ___ Incentive Stock Option
___ Nonstatutory Stock Option
Term/Expiration Date:
Vesting Schedule:
Subject to accelerated vesting as set forth below or in the Plan, this Option will be exercisable, in whole or in part, in accordance with the following schedule:
[Insert Vesting Schedule]
[Notwithstanding the foregoing, in the event of a Change in Control (as such term is defined in the Plan), all outstanding unvested Shares subject to the Option shall become fully vested and exercisable for the remainder of their Term, and Participant will fully vest in and have the right to exercise all of the Shares underlying the Option, including those Shares which would not otherwise be vested or exercisable, provided the Participant continues to be a Service Provider through the date of such Change in Control.]
Termination Period:
This Option will be exercisable for [three (3) months] after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option will be exercisable for [twelve (12) months] after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above, and this Option may be subject to earlier termination as provided in Section 15 of the Plan.
By Participant’s signature and the signature of the representative of the Company below, Participant and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement, including the Terms and Conditions of Stock Option Grant, attached hereto as Exhibit A, all of which are made a part of this document. Participant acknowledges receipt of a copy of the Plan. Participant has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement, and fully understands all provisions of the Plan and this Option Agreement. Participant hereby agrees to accept as binding, conclusive, and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and the Option Agreement. Participant further agrees to notify the Company upon any change in the residence address indicated below.
PARTICIPANT Meta Materials Inc.
Signature Signature
____________________________________
Print Name Print Name
Title
EXHIBIT A
TERMS AND CONDITIONS OF STOCK OPTION GRANT
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EXHIBIT B
Meta Materials Inc.
2021 EQUITY INCENTIVE PLAN
EXERCISE NOTICE
Meta Materials Inc.
1 Research Drive
Dartmouth, Nova Scotia, Canada B27 4M9
Attention: Stock Administration
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Submitted by: Accepted by:
PURCHASER Meta Materials Inc.
Signature Signature
Print Name Print Name
Address:
Title
Date Received
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