EXHIBIT 10.07 Driveway Corporation 1997 Stock Option Plan Notice of Stock Option Grant We are pleased to inform you that you have been selected by Driveway Corporation (the "Company") to receive the following Option to purchase Common Stock of the Company. The terms of the Option are as set forth in this Notice, the attached Stock Option Agreement and the Company's 1997 Stock Option Plan (the "Plan"): Name of Optionee: Michael Vanneman Total Number of Shares Granted: 220,000 Type of Option: Incentive Stock Option Exercise Price Per Share: $2.50 Date of Grant: February 2, 2000 Vesting Commencement Date: February 2, 2000 Vesting Schedule: This Option may be exercised immediately, in whole or in part, subject to the Company's right to repurchase shares acquired on exercise, which right shall lapse in accordance with the following schedule: 2.0833% of the shares subject to the Option will vest and cease to be subject to the repurchase option one month after the Vesting Commencement Date. The remainder of the shares subject to the Option will vest and cease to be subject to the repurchase option as to an additional 2.0833% of the shares subject to the Option after each full month of continuous employment or service thereafter; provided however, that in the event Optionee's employment is terminated within one year after the occurrence of a Corporate Transaction (as defined in the Plan), 50% of the portion of the then outstanding options that are not at that time vested shall become vested. Expiration Date: February 1, 2010 By your signature and the signature of the Company's representative below, you and the Company agree that this Option is granted under and governed by the terms and conditions of the Plan and the Stock Option Agreement, both of which are attached to and made a part of this document. Optionee: Driveway Corporation By: - --------------------------- --------------------------- Title: - --------------------------- ------------------------ Print Name