1
EXHIBIT 10.32
[TCS LOGO]
STOCK OPTION CERTIFICATE
February 12, 2001
Gregg W. Blodgett
4819 N.E. 42nd Street
Seattle, WA 98105
Dear Gregg:
Pursuant to the terms and conditions of the TeleCommunication Systems, Inc.
Amended & Restated 1997 Stock Incentive Plan (the "Plan"), you have been
granted an Incentive Stock Option to purchase 69,282 shares (each an "Option",
collectively, the "Options") of the Class A common stock, par value $0.01 per
share (the "Common Stock") of TeleCommunication Systems, Inc., (the "Company")
as outlined below. This Certificate constitutes part of and is subject to the
terms and provisions of the attached Stock Option Agreement (the "Agreement")
which is incorporated by reference herein.
Granted To: Gregg W. Blodgett
(the "Employee" for Incentive Stock Options, or the
"Optionee" for Non-Qualified Stock Options)
SSN ###-##-####
Grant Date: February 2, 2001
Options Granted: 69,282 Incentive
Exercise Price per Share: $6.63 Total Cost to Exercise: $458,993.25
Expiration Date: The close of business on the business day
immediately preceding:
February 2, 2011
Vesting Schedule: Special Vesting
15,094 on 02/02/2002
15,094 on 02/02/2003
15,094 on 02/02/2004
12,000 on 02/02/2005
12,000 on 02/02/2006
By my signature below, I hereby acknowledge receipt of this Option granted on
the Grant Date shown above, which has been issued to me under the terms and
conditions of the Agreement and the Plan. I understand that I must be an
employee of TCS on the date I exercise vested options, unless otherwise provided
in the Agreement or the Plan, and that I will forfeit all unexercised options,
both vested and unvested, at the close of business on my last day of employment
at TCS. I further acknowledge receipt of the Plan Prospectus and the latest
annual report or other SEC filing, and agree to be bound by all of the terms and
conditions of the Option, as evidenced in the Agreement, and the Plan.
Signature: /s/ GREGG W. BLODGETT Date: 2/16/01
-------------------------------------- ------------------
Gregg W. Blodgett
Note: If there are any discrepancies in the name or address shown
above, please make the appropriate corrections on this form.
2
EXHIBIT 10.32
[TCS LOGO]
STOCK OPTION CERTIFICATE
February 12, 2001
Gregg W. Blodgett
4819 N.E. 42nd Street
Seattle, WA 98105
Dear Gregg:
Pursuant to the terms and conditions of the TeleCommunication Systems, Inc.
Amended & Restated 1997 Stock Incentive Plan (the "Plan"), you have been
granted a Non-Qualified Stock Option to purchase 10,718 shares (each an
"Option", collectively, the "Options") of the Class A common stock, par value
$0.01 per share (the "Common Stock") of TeleCommunication Systems, Inc., (the
"Company") as outlined below. This Certificate constitutes part of and is
subject to the terms and provisions of the attached Stock Option Agreement (the
"Agreement") which is incorporated by reference herein.
Granted To: Gregg W. Blodgett
(the "Employee" for Incentive Stock Options, or the
"Optionee" for Non-Qualified Stock Options)
SSN ###-##-####
Grant Date: February 2, 2001
Options Granted: 10,718 Non-Qualified
Exercise Price per Share: $6.63 Total Cost to Exercise: $71,006.75
Expiration Date: The close of business on the business day
immediately preceding:
February 2, 2011
Vesting Schedule: Special Vesting
4,906 on 02/02/2002
4,906 on 02/02/2003
906 on 02/02/2004
By my signature below, I hereby acknowledge receipt of this Option granted on
the Grant Date shown above, which has been issued to me under the terms and
conditions of the Agreement and the Plan. I understand that I must be an
employee of TCS on the date I exercise vested options, unless otherwise provided
in the Agreement or the Plan, and that I will forfeit all unexercised options,
both vested and unvested, at the close of business on my last day of employment
at TCS. I further acknowledge receipt of the Plan Prospectus and the latest
annual report or other SEC filing, and agree to be bound by all of the terms and
conditions of the Option, as evidenced in the Agreement, and the Plan.
Signature: /s/ GREGG W. BLODGETT Date: 2/16/01
-------------------------------------- ------------------
Gregg W. Blodgett
Note: If there are any discrepancies in the name or address shown
above, please make the appropriate corrections on this form.