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EXHIBIT 99.3
XETEL CORPORATION
NOTICE OF GRANT OF STOCK OPTION
Notice is hereby given of the following option grant (the
"Option") to purchase shares of the Common Stock of XeTel Corporation (the
"Corporation"):
Optionee:
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Grant Date:
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Vesting Commencement Date:
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Exercise Price: $ per share
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Number of Option Shares: shares
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Expiration Date:
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Type of Option: Incentive Stock Option
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Non-Statutory Stock Option
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Exercise Schedule: The Option shall become exercisable with
respect to twenty five percent (25%) of the Option Shares upon
Optionee's completion of one (1) year of Service measured from
the Vesting Commencement Date and shall become exercisable for
the balance of the Option Shares in three (3) successive equal
annual installments upon Optionee's completion of each
additional year of Service over the three (3)-year period
measured from the first anniversary of the Vesting
Commencement Date. In no event shall the Option become
exercisable for any additional Option Shares after Optionee's
cessation of Service.
Optionee understands and agrees that the Option is granted
subject to and in accordance with the terms of the XeTel Corporation 1997 Stock
Incentive Plan (the "Plan"). Optionee further agrees to be bound by the terms of
the Plan and the terms of the Option as set forth in the Stock Option Agreement
attached hereto as Exhibit A. A copy of the Plan is available upon request made
to the Corporate Secretary or Corporate Assistant Secretary at the Corporation's
principal offices.
No Employment or Service Contract. Nothing in this Notice or
in the attached Stock Option Agreement or in the Plan shall confer upon Optionee
any right to continue in Service for any period of specific duration or
interfere with or otherwise restrict in any way the rights of the Corporation
(or any Parent or Subsidiary employing or retaining Optionee) or of
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Optionee, which rights are hereby expressly reserved by each, to terminate
Optionee's Service at any time for any reason, with or without cause.
Definitions. All capitalized terms in this Notice shall have
the meaning assigned to them in this Notice or in the attached Stock Option
Agreement.
DATED , 199
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XETEL CORPORATION
By:
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Title:
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OPTIONEE
Address:
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ATTACHMENTS
EXHIBIT A - STOCK OPTION AGREEMENT AND ADDENDUM
2.