Exhibit 10.12
Notice of Stock Option Grant
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| Great Elm Group, Inc. |
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| ID: 85-3622015 |
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| 800 South Street, Suite 230 |
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| Waltham, MA 02453 |
You have been granted an option (the “Option”) to purchase shares of common stock, par value $0.001 per share (the “Common Stock”), of Great Elm Group Inc. (the “Company”) as detailed below:
This Notice of Stock Option Grant (this “Notice”), together with the Great Elm Group, Inc. Amended and Restated 2016 Long-Term Incentive Plan (the “Plan”) as in effect as of the Date of Grant, and the terms and conditions of this Notice (the “Award Agreement”) attached hereto, contain the terms of your Option.
Date of Grant: |
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Number of Shares of Common Stock: |
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Exercise Price Per Share of Common Stock: |
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Vesting Schedule: |
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Fully Vested Date: |
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Expiration Date: |
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Vesting Schedule:
Subject to Section 2 of the Award Agreement, the right to purchase [ ] % of the shares shall, subject to your continuous service, vest on the first anniversary of the Date of Grant and thereafter [ ]% of the shares shall, subject to your continuous service, vest on each monthly anniversary of the Date of Grant. The Option shall not be exercisable for fractional shares and such fraction shall be rounded up to the nearest number of whole shares.
Termination Period:
Except as set forth in the Award Agreement, this Option, to the extent then exercisable, may be exercised (a) on the date of termination if you are terminated for Cause, (b) for a period of two months following cessation of your employment and (c) for a period of one year following your death or Disability, but (d) in no event after the Expiration Date. You are responsible for keeping track of these dates. The Company has no duty to, and will not, provide further notice of such period.
The foregoing is qualified in its entirety by the Award Agreement.
Acknowledgements and Agreements:
By your signature and the signature of the representative for the Company, below, you and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan and the Award Agreement, all of which are hereby incorporated by reference and made a part hereof.
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PARTICIPANT |
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Great Elm Group, INC.
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| By: |
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Signature |
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| Title: | General Counsel |
Print Name |
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Date |
| Date |
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Terms and Conditions of Option
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PARTICIPANT UNDERSTANDS THAT PARTICIPANT MAY SUFFER ADVERSE TAX CONSEQUENCES AS A RESULT OF PARTICIPANT’S PURCHASE OR DISPOSITION OF SHARES AND PARTICIPANT REPRESENTS THAT PARTICIPANT IS NOT RELYING ON THE COMPANY FOR ANY TAX ADVICE.
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