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Stock Plan Summary

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Stock plan summary template describing equity incentive plan terms, award types, vesting and tax considerations for participants.

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[Company Name] [Stock Plan Name]

Summary of Key Provisions

Share Reserve: | __________ shares of common stock.

Eligibility: | Employees, consultants and advisors of the Company or any parent, subsidiary or affiliate of the Company; provided that incentive stock options (“ISOs”) may only be granted to employees or any parent or subsidiary.

Directors of the Company..

Types of Awards Authorized: | ISOs, nonstatutory stock options (“NSOs”), and restricted stock.

Exercise Price: | ISOs:

100% of fair market value (110% of fair market value for 10% shareholders).

NSOs/Restricted Stock:

To be determined by the plan administrator.

Note that, due to certain tax issues related to the treatment of awards as nonqualified deferred compensation, all options should be issued with an exercise price that is at least 100% of the fair market value unless discussed in advance with counsel.

Vesting: | Vesting of all awards to be determined by the plan administrator on a grant-by-grant basis; typical vesting would be 25% of the shares subject to an award will vest on the 1-year anniversary of the date of grant, and 1/48th of the total number of shares subject to the award will vest on a monthly basis thereafter.

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Stock Plan Summary

Investment Agreements -- US - General