-10- incurred in providing services to CTI. Petitioner was required to submit to CTI invoices for her hourly pay, and she was required to submit with those invoices documentation supporting her claim to reimbursement for out-of-pocket expenses. The consulting agreement shortened the vesting period of petitioner’s stock options. It stated: Options. Consultant and CTI are parties to the 1997 Option Agreement (“Option Agreement”) and the 1994 CTI Equity Incentive Option Plan (“Option Plan”) in which Consultant vests in CTI incentive stock options. In lieu of Consultant vesting in CTI incentive options according to the Option Agreement, the parties agree that Consultant shall vest in CTI incentive options for the term of this Agreement as provided hereunder and in the Option Plan. Type Option Option of Old Vest New Vest No. Date Option Shares Price Date Date P000698 12/10/98 ISO 8,750 2.969 12/10/01 4/12/01 P000698 12/10/98 ISO 2,916 2.969 12/10/01 7/12/01 C000892 12/22/99 ISO 5,834 3.063 12/22/01 7/12/01 C000892 12/22/99 ISO 5,833 3.063 12/22/01 10/12/01 C000892 12/22/99 ISO 2,917 3.063 12/22/02 10/12/01 C000892 12/22/99 ISO 8,749 3.063 12/22/02 1/12/02 For avoidance of any doubt whatsoever, Consultant shall vest in each set of options provided this Agreement is in effect as of the vesting date for that respective set of options as described above (i.e. if Consultant terminates this Agreement on 8/12/01 she would be entitled to 17,500 vested options; she would not be entitled to the remaining 17,499 unvested options). Consultant would then have ninety (90) days from the date of termination of this Agreement to exercise the vested options. Petitioner read the consulting agreement, thought she understood it, signed it, and did not ask any questions regarding it. She believed that by entering into the agreement she wouldPage: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 NextLast modified: November 10, 2007