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EXHIBIT 99.1
INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN
The following constitute the provisions of the 2000 Employee Stock
Purchase Plan of International Isotopes, Inc.
1. Purpose. The purpose of the Plan is to provide employees of the
Company and its Designated Subsidiaries with an opportunity to purchase Common
Stock of the Company through accumulated payroll deductions. It is the intention
of the Company to have the Plan qualify as an "Employee Stock Purchase Plan"
under Section 423 of the Internal Revenue Code of 1986, as amended. The
provisions of the Plan, accordingly, shall be construed so as to extend and
limit participation in a manner consistent with the requirements of that section
of the Code.
2. Definitions.
(a) "Board" shall mean the Board of Directors of the Company.
(b) "Code" shall mean the Internal Revenue Code of 1986, as amended.
(c) "Common Stock" shall mean the Common Stock of the Company.
(d) "Company" shall mean International Isotopes, Inc. and any
Designated Subsidiary of the Company.
(e) "Compensation" shall mean all Form W-2 compensation of the
participant.
(f) "Designated Subsidiary" shall mean any Subsidiary which has been
designated by the Board from time to time in its sole discretion
as eligible to participate in the Plan.
(g) "Employee" shall mean any individual who is an Employee of the
Company whose customary employment with the Company is at least
twenty (20) hours per week and more than five (5) months in any
calendar year. For purposes of the Plan, the employment
relationship shall be treated as continuing intact while the
individual is on sick leave or other leave of absence approved
by the Company. Where the period of leave exceeds 90 days and
the individual's right to reemployment is not guaranteed either
by statute or by contract, the employment relationship shall be
deemed to have terminated on the 91st day of such leave.
(h) "Enrollment Date" shall mean the first day of each Offering
Period.
(i) "Exercise Date" shall mean the last Trading Day of each calendar
quarter.
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2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 1
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(j) "Fair Market Value" shall mean, as of any date, the value of
Common Stock determined as follows:
(1) If the Common Stock is listed on any established stock
exchange or a national market system, including without
limitation the Nasdaq National Market or The Nasdaq SmallCap
Market of The Nasdaq Stock Market, its Fair Market Value
shall be the closing sales price for such stock (or the
closing bid, if no sales were reported) as quoted on such
exchange or system for the last market trading day on the
date of such determination, as reported in The Wall Street
Journal or such other source as the Administrator deems
reliable, or;
(2) If the Common Stock is regularly quoted by a recognized
securities dealer but selling prices are not reported, its
Fair Market Value shall be the mean of the closing bid and
asked prices for the Common Stock on the date of such
determination, as reported in The Wall Street Journal or
such other source as the Board deems reliable, or;
(3) In the absence of an established market for the Common
Stock, the Fair Market Value thereof shall be determined in
good faith by the Board.
(k) "Offering Periods" shall mean the period of approximately twelve
(12) months during which an option granted pursuant to the Plan
may be exercised, commencing on the first Trading Day on or
after August 1 of each year, and terminating on the last Trading
Day on or after July 31. The duration and timing of Offering
Periods may be changed pursuant to Section 4 of this Plan.
(l) "Plan" shall mean this Employee Stock Purchase Plan.
(m) "Purchase Period" shall mean the approximately three-month
period commencing after one Exercise Date and ending with the
next Exercise Date, except that the first Purchase Period of any
Offering Period shall commence on the Enrollment Date and end
with the next Exercise Date.
(n) "Purchase Price" shall mean an amount equal to 85% of the Fair
Market Value of a share of Common Stock on the Enrollment Date,
or on the Exercise Date, whichever is lower.
(o) "Reserves" shall mean the number of shares of Common Stock
covered by each option under the Plan which have not yet been
exercised and the number of shares of Common Stock which have
been authorized for issuance under the Plan but not yet placed
under option.
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2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 2
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(p) "Subsidiary" shall mean a corporation, domestic or foreign, of
which not less than 50% of the voting shares are held by the
Company or a Subsidiary, whether or not such corporation now
exists or is hereafter organized or acquired by the Company or a
Subsidiary.
(q) "Trading Day" shall mean a day on which national stock exchanges
and the Nasdaq System are open for trading.
3. Eligibility.
(a) Any Employee who shall be employed by the Company on a given
Enrollment Date shall be eligible to participate in the Plan.
(b) Any provisions of the Plan to the contrary notwithstanding, no
Employee shall be granted an option under the Plan (i) to the
extent that, immediately after the grant, such Employee (or any
other person whose stock would be attributed to such Employee
pursuant to Section 424(d) of the Code) would own capital stock
of the Company and/or hold outstanding options to purchase such
stock possessing five percent (5%) or more of the total combined
voting power or value of all classes of the capital stock of the
Company or of any Subsidiary, or (ii) to the extent that his or
her rights to purchase stock under all employee stock purchase
plans of the Company and its subsidiaries accrues at a rate
which exceeds Twenty-Five Thousand Dollars ($25,000) worth of
stock (determined at the fair market value of the shares at the
time such option is granted) for each calendar year in which
such option is outstanding at any time.
4. Offering Periods. The Plan shall be implemented by consecutive
Offering Periods on such dates as the Board shall determine, and continuing
thereafter until terminated in accordance with Section 20 hereof. The Board
shall have the power to change the duration of Offering Periods (including the
commencement dates thereof) with respect to future offerings without shareholder
approval if such change is announced at least five (5) days prior to the
scheduled beginning of the first Offering Period to be affected thereafter.
5. Participation.
(a) An eligible Employee may become a participant in the Plan by
completing a subscription agreement authorizing payroll
deductions in the form of Exhibit A to this Plan and filing it
with the Company's payroll office prior to the applicable
Enrollment Date.
(b) Payroll deductions for a participant shall commence on the first
payroll following the Enrollment Date and shall end on the last
payroll in the Offering Period to which such authorization is
applicable, unless sooner terminated by the participant as
provided in Section 10 hereof.
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2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 3
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6. Payroll Deductions.
(a) At the time a participant files his or her subscription
agreement, he or she shall elect to have payroll deductions made
on each pay day during the Offering Period in an amount not
exceeding fifteen percent (15%) of the Compensation which he or
she receives on each pay day during the Offering Period.
(b) All payroll deductions made for a participant shall be credited
to his or her account under the Plan and shall be withheld in
whole percentages only. A participant may not make any
additional payments into such account.
(c) A participant may discontinue his or her participation in the
Plan as provided in Section 10 hereof, or may increase or
decrease the rate of his or her payroll deductions during the
Offering Period by completing or filing with the Company a new
subscription agreement authorizing a change in payroll deduction
rate. The Board may, in its discretion, limit the number of
participation rate changes during any Offering Period. The
change in rate shall be effective with the first full payroll
period following five (5) business days after the Company's
receipt of the new subscription agreement unless the Company
elects to process a given change in participation more quickly.
A participant's subscription agreement shall remain in effect
for successive Offering Periods unless terminated as provided in
Section 10 hereof.
(d) Notwithstanding the foregoing, to the extent necessary to comply
with Section 423(b)(8) of the Code and Section 3(b) hereof, a
participant's payroll deductions may be decreased to zero
percent (0%) at any time during a Purchase Period. Payroll
deductions shall recommence at the rate provided in such
participant's subscription agreement at the first Offering
Period in the following calendar year, unless terminated by the
participant as provided in Section 10 hereof.
(e) At the time the option is exercised, in whole or in part, or at
the time some or all of the Company's Common Stock issued under
the Plan is disposed of, the participant must make adequate
provision for the Company's federal, state, or other tax
withholding obligations, if any, which arise upon the exercise
of the option or the disposition of the Common Stock. At any
time, the Company may, but shall not be obligated to, withhold
from the participant's Compensation the amount necessary for the
Company to meet applicable withholding obligations, including
any withholding required to make available to the Company any
tax deductions or benefits attributable to sale or early
disposition of Common Stock by the Employee.
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2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 4
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7. Grant of Option. On the Enrollment Date of each Offering Period,
each eligible Employee participating in such Offering Period shall be granted an
option to purchase on each Exercise Date during such Offering Period (at the
applicable Purchase Price) up to a number of shares of the Company's Common
Stock determined by dividing such Employee's payroll deductions accumulated
prior to such Exercise Date and retained in the Participant's account as of the
Exercise Date by the applicable Purchase Price; provided that such purchase
shall be subject to the limitations set forth in Sections 3(b) and 12 hereof.
Exercise of the option shall occur as provided in Section 8 hereof, unless the
participant has withdrawn pursuant to Section 10 hereof. The option shall expire
on the last day of the Offering Period.
8. Exercise of Option. Unless a participant withdraws from the Plan as
provided in Section 10 hereof, his or her option for the purchase of shares
shall be exercised automatically on the Exercise Date, and the maximum number of
full shares subject to option shall be purchased for such participant at the
applicable Purchase Price with the accumulated payroll deductions in his or her
account. No fractional shares shall be purchased; any payroll deductions
accumulated in a participant's account which are not sufficient to purchase a
full share shall be retained in the participant's account for the subsequent
Purchase Period or Offering Period, subject to earlier withdrawal by the
participant as provided in Section 10 hereof. Any other monies left over in a
participant's account after the Exercise Date shall be returned to the
participant. During a participant's lifetime, a participant's option to purchase
shares hereunder is exercisable only by him or her.
9. Delivery. As promptly as practicable after each Exercise Date on
which a purchase of shares occurs, the Company shall arrange the delivery to
each participant, as appropriate, of a certificate representing the shares
purchased upon exercise of his or her option.
10. Withdrawal.
(a) A participant may withdraw all but not less than all the
payroll deductions credited to his or her account and not yet
used to exercise his or her option under the Plan at any time
by giving written notice to the Company in the form of Exhibit
B to this Plan. All of the participant's payroll deductions
credited to his or her account shall be paid to such
participant promptly after receipt of notice of withdrawal and
such participant's option for the Offering Period shall be
automatically terminated, and no further payroll deductions for
the purchase of shares shall be made for such Offering Period.
If a participant withdraws from an Offering Period, payroll
deductions shall not resume at the beginning of the succeeding
Offering Period unless the participant delivers to the Company
a new subscription agreement.
(b) A participant's withdrawal from an Offering Period shall not
have any effect upon his or her eligibility to participate in
any similar plan which may hereafter be adopted by the Company
or in succeeding Offering Periods which commence after the
termination of the Offering Period from which the participant
withdraws.
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2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 5
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11. Termination of Employment.
Upon a participant's ceasing to be an Employee, for any reason, he
or she shall be deemed to have elected to withdraw from the Plan and the payroll
deductions credited to such participant's account during the Offering Period but
not yet used to exercise the option shall be returned to such participant or, in
the case of his or her death, to the person or persons entitled thereto under
Section 15 hereof, and such participant's option shall be automatically
terminated. The preceding sentence notwithstanding, a participant who receives
payment in lieu of notice of termination of employment shall be treated as
continuing to be an Employee for the participant's customary number of hours per
week of employment during the period in which the participant is subject to such
payment in lieu of notice.
12. Interest. No interest shall accrue on the payroll deductions of a
participant in the Plan.
13. Stock.
(a) Subject to Section 19, the maximum number of shares of the
Company's Common Stock which shall be made available for sale
under the Plan shall be 100,000 shares, together with an annual
increase to the number of shares reserved thereunder to take
effect each year on the date of the Annual Meeting of
Shareholders (commencing with the 2001 Annual Meeting of
Shareholders) equal to 50,000 shares. If, on a given Exercise
Date, the number of shares with respect to which options are to
be exercised exceeds the number of shares then available under
the Plan, the Company shall make a pro rata allocation of the
shares remaining available for purchase in as uniform a manner
as shall be practicable and as it shall determine to be
equitable.
(b) The participant shall have no interest or voting right in
shares covered by his option until such option has been
exercised.
(c) Shares to be delivered to a participant under the Plan shall be
registered in the name of the participant or in the name of the
participant and his or her spouse.
14. Administration. The Plan shall be administered by the Board or a
committee of members of the Board appointed by the Board. The Board or its
committee shall have full and exclusive discretionary authority to construe,
interpret and apply the terms of the Plan, to determine eligibility and to
adjudicate all disputed claims filed under the Plan. Every finding, decision and
determination made by the Board or its committee shall, to the full extent
permitted by law, be final and binding upon all parties.
EXHIBIT A - INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 6
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15. Designation of Beneficiary.
(a) A participant may file a written designation of a beneficiary
who is to receive any shares and cash, if any, from the
participant's account under the Plan in the event of such
participant's death subsequent to an Exercise Date on which the
option is exercised but prior to delivery to such participant
of such shares and cash. In addition, a participant may file a
written designation of a beneficiary who is to receive any cash
from the participant's account under the Plan in the event of
such participant's death prior to exercise of the option. If a
participant is married and the designated beneficiary is not
the spouse, spousal consent shall be required for such
designation to be effective.
(b) Such designation of beneficiary may be changed by the
participant at any time by written notice. In the event of the
death of a participant and in the absence of a beneficiary
validly designated under the Plan who is living at the time of
such participant's death, the Company shall deliver such shares
and/or cash to the executor or administrator of the estate of
the participant, or if no such executor or administrator has
been appointed (to the knowledge of the Company), the Company,
in its discretion, may deliver such shares and/or cash to the
spouse or to any one or more dependents or relatives of the
participant, or if no spouse, dependent or relative is known to
the Company, then to such other person as the Company may
designate.
16. Transferability. Neither payroll deductions credited to a
participant's account nor any rights with regard to the exercise of an option or
to receive shares under the Plan may be assigned, transferred, pledged or
otherwise disposed of in any way (other than by will, the laws of descent and
distribution or as provided in Section 15 hereof) by the participant. Any such
attempt at assignment, transfer, pledge or other disposition shall be without
effect, except that the Company may treat such act as an election to withdraw
funds from an Offering Period in accordance with Section 10 hereof.
17. Use of Funds. All payroll deductions received or held by the
Company under the Plan may be used by the Company for any corporate purpose, and
the Company shall not be obligated to segregate such payroll deductions.
18. Reports. Individual accounts shall be maintained for each
participant in the Plan. Statements of account shall be given to participating
Employees at least annually, which statements shall set forth the amounts of
payroll deductions, the Purchase Price, the number of shares purchased and the
remaining cash balance, if any.
19. Adjustments Upon Changes in Capitalization, Dissolution,
Liquidation, Merger or Asset Sale.
EXHIBIT A - INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 7
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(a) Changes in Capitalization. Subject to any required action by
the shareholders of the Company, the Reserves, as well as the
price per share and the number of shares of Common Stock
covered by each option under the Plan which has not yet been
exercised, shall be proportionately adjusted for any increase
or decrease in the number of issued shares of Common Stock
resulting from a stock split, reverse stock split, stock
dividend, combination or reclassification of the Common Stock,
or any other increase or decrease in the number of shares of
Common Stock effected without receipt of consideration by the
Company; provided, however, that conversion of any convertible
securities of the Company shall not be deemed to have been
"effected without receipt of consideration". Such adjustment
shall be made by the Board, whose determination in that respect
shall be final, binding and conclusive. Except as expressly
provided herein, no issuance by the Company of shares of stock
of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof
shall be made with respect to, the number or price of shares of
Common Stock subject to an option.
(b) Dissolution or Liquidation. In the event of the proposed
dissolution or liquidation of the Company, the Offering Period
then in progress shall be shortened by setting a new Exercise
Date (the "New Exercise Date"), and shall terminate immediately
prior to the consummation of such proposed dissolution or
liquidation, unless provided otherwise by the Board. The New
Exercise Date shall be before the date of the Company's
proposed dissolution or liquidation. The Board shall notify
each participant in writing, at least ten (10) business days
prior to the New Exercise Date, that the Exercise Date for the
participant's option has been changed to the New Exercise Date
and that the participant's option shall be exercised
automatically on the New Exercise Date, unless prior to such
date the participant has withdrawn from the Offering Period as
provided in Section 10 hereof.
(c) Merger or Asset Sale. In the event of a proposed sale of all or
substantially all of the assets of the Company, or the merger
of the Company with or into another corporation, each
outstanding option shall be assumed or an equivalent option
substituted by the successor corporation or a Parent or
Subsidiary of the successor corporation. In the event that the
successor corporation refuses to assume or substitute for the
option, any Purchase Periods then in progress shall be
shortened by setting a new Exercise Date (the "New Exercise
Date") and the current Offering Period shall end on the New
Exercise Date. The New Exercise Date shall be before the date
of the Company's proposed sale or merger. The Board shall
notify each participant in writing, at least ten (10) business
days prior to the New Exercise Date, that the Exercise Date for
the participant's option has been changed to the New Exercise
Date and that the participant's option shall be exercised
automatically on the New Exercise Date, unless prior to such
EXHIBIT A - INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 8
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date the participant has withdrawn from the Offering Period as
provided in Section 10 hereof.
20. Amendment or Termination.
(a) The Board of Directors of the Company may at any time and for
any reason terminate or amend the Plan. Except as provided in
Section 19 hereof, no such termination can affect options
previously granted, provided that an Offering Period may be
terminated by the Board of Directors on any Exercise Date if
the Board determines that the termination of the Plan is in the
best interests of the Company and its shareholders. Except as
provided in Section 19 hereof, no amendment may make any change
in any option theretofore granted which adversely affects the
rights of any participant. To the extent necessary to comply
with Section 423 of the Code (or any successor rule or
provision or any other applicable law, regulation or stock
exchange rule), the Company shall obtain shareholder approval
in such a manner and to such a degree as required.
(b) Without shareholder consent and without regard to whether any
participant rights may be considered to have been "adversely
affected," the Board (or its committee) shall be entitled to
change the Offering Period, limit the frequency and/or number
of changes in the amount withheld during an Offering Period,
establish the exchange ratio applicable to amounts withheld in
a currency other than U.S. dollars, permit payroll withholding
in excess of the amount designated by a participant in order to
adjust for delays or mistakes in the Company's processing of
properly completed withholding elections, establish reasonable
waiting and adjustment periods and/or accounting and crediting
procedures to ensure that amounts applied toward the purchase
of Common Stock for each participant properly correspond with
amounts withheld from the participant's Compensation, and
establish such other limitations or procedures as the Board (or
its committee) determines in its sole discretion advisable
which are consistent with the Plan.
21. Notices. All notices or other communications by a participant to
the Company under or in connection with the Plan shall be deemed to have been
duly given when received in the form specified by the Company at the location,
or by the person, designated by the Company for the receipt thereof.
22. Conditions Upon Issuance of Shares. Shares shall not be issued with
respect to an option unless the exercise of such option and the issuance and
delivery of such shares pursuant thereto shall comply with all applicable
provisions of law, domestic or foreign, including, without limitation, the
Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as
amended, the rules and regulations promulgated thereunder, and the requirements
of any stock exchange upon which the shares may then be listed, and shall be
further subject to the approval of counsel for the Company with respect to such
compliance.
EXHIBIT B - INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 9
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As a condition to the exercise of an option, the Company may require
the person exercising such option to represent and warrant at the time of any
such exercise that the shares are being purchased only for investment and
without any present intention to sell or distribute such shares if, in the
opinion of counsel for the Company, such a representation is required by any of
the aforementioned applicable provisions of law.
23. Term of Plan. The Plan shall become effective upon the earlier to
occur of its adoption by the Board of Directors or its approval by the
shareholders of the Company. It shall continue in effect for a term of ten (10)
years unless sooner terminated under Section 20 hereof.
EXHIBIT A - INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 10
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EXHIBIT A
INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN
SUBSCRIPTION AGREEMENT
ORIGINAL APPLICATION ENROLLMENT DATE:
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CHANGE IN PAYROLL DEDUCTION RATE
- -----
CHANGE OF BENEFICIARY(IES)
- -----
1. _______________________ hereby elects to participate in the
International Isotopes, Inc. 2000 Employee Stock Purchase Plan (the
"Employee Stock Purchase Plan") and subscribes to purchase shares of
the Company's Common Stock in accordance with this Subscription
Agreement and the Employee Stock Purchase Plan.
2. I hereby authorize payroll deductions from each paycheck in the amount
of ____% of my Compensation on each payday (from 1 to 15%) during the
Offering Period in accordance with the Employee Stock Purchase Plan.
(Please note that no fractional percentages are permitted.)
3. I understand that said payroll deductions shall be accumulated for the
purchase of shares of Common Stock at the applicable Purchase Price
determined in accordance with the Employee Stock Purchase Plan. I
understand that if I do not withdraw from an Offering Period, any
accumulated payroll deductions will be used to automatically exercise
my option.
4. I have received a copy of the complete Employee Stock Purchase Plan. I
understand that my participation in the Employee Stock Purchase Plan is
in all respects subject to the terms of the Plan.
5. Shares purchased for me under the Employee Stock Purchase Plan should
be issued in the name(s) of (Employee or Employee and Spouse only):
___________________________.
6. I understand that if I dispose of any shares received by me pursuant to
the Plan within 2 years after the Enrollment Date (the first day of the
Offering Period during which I purchased such shares) or one year after
the Exercise Date, I will be treated for federal income tax purposes as
having received ordinary income at the time of such disposition in an
amount equal to the excess of the fair market value of the shares at
the time such shares were purchased by me over the price which I paid
for the shares. I hereby agree to notify the Company in writing within
30 days after the date of any disposition of my shares and I
EXHIBIT A - INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 1
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will make adequate provision for Federal, state or other tax
withholding obligations, if any, which arise upon the disposition of
the Common Stock. The Company may, but will not be obligated to,
withhold from my compensation the amount necessary to meet any
applicable withholding obligation including any withholding necessary
to make available to the Company any tax deductions or benefits
attributable to sale or early disposition of Common Stock by me. If I
dispose of such shares at any time after the expiration of the 2-year
and 1-year holding periods, I understand that I will be treated for
federal income tax purposes as having received income only at the time
of such disposition, and that such income will be taxed as ordinary
income only to the extent of an amount equal to the lesser of (1) the
excess of the fair market value of the shares at the time of such
disposition over the purchase price which I paid for the shares, or (2)
15% of the fair market value of the shares on the first day of the
Offering Period. The remainder of the gain, if any, recognized on such
disposition will be taxed as capital gain.
7. I hereby agree to be bound by the terms of the Employee Stock Purchase
Plan. The effectiveness of this Subscription Agreement is dependent
upon my eligibility to participate in the Employee Stock Purchase Plan.
8. In the event of my death, I hereby designate the following as my
beneficiary(ies) to receive all payments and shares due me under the
Employee Stock Purchase Plan:
NAME: (PLEASE PRINT)
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(FIRST) (MIDDLE) (LAST)
- ----------------------------------- -----------------------------------
RELATIONSHIP
-----------------------------------
(ADDRESS)
EMPLOYEE'S SOCIAL SECURITY NUMBER:
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EMPLOYEE'S ADDRESS:
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-----------------------------------
-----------------------------------
I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT SHALL REMAIN IN EFFECT THROUGHOUT
SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY ME.
DATED:
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SIGNATURE OF EMPLOYEE
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SPOUSE'S SIGNATURE (IF BENEFICIARY
OTHER THAN SPOUSE)
EXHIBIT A - INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 2
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EXHIBIT B
INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN
NOTICE OF WITHDRAWAL
The undersigned participant in the Offering Period of the International
Isotopes, Inc. 2000 Employee Stock Purchase Plan which began on August 1, 20____
(the "Enrollment Date") hereby notifies the Company that he or she hereby
withdraws from the Offering Period. He or she hereby directs the Company to pay
to the undersigned as promptly as practicable all the payroll deductions
credited to his or her account with respect to such Offering Period. The
undersigned understands and agrees that his or her option for such Offering
Period will be automatically terminated. The undersigned understands further
that no further payroll deductions will be made for the purchase of shares in
the current Offering Period and the undersigned shall be eligible to participate
in succeeding Offering Periods only by delivering to the Company a new
Subscription Agreement.
NAME AND ADDRESS OF PARTICIPANT:
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SIGNATURE:
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DATE:
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EXHIBIT B - INTERNATIONAL ISOTOPES, INC.
2000 EMPLOYEE STOCK PURCHASE PLAN PAGE 1