Exhibit 10.3
DATAHAND SYSTEMS, INC.
DIRECTOR STOCK PLAN AGREEMENT
(Awarded for FY 1999)
This Agreement is made and entered into by and between DATAHAND SYSTEMS,
INC., a Delaware corporation (the "Company") and __________ as of the (the
"Xxxxx Xxx".)
WHEREAS, the Board of Directors of the Company (the "Board") has adopted
the Industrial Innovations, Inc. 1993 Director Stock (the "Plan") to encourage
ownership in the Company by directors, to strengthen the ability of the Company
to attract and retain the services of experienced and knowledgeable individuals
as directors and to provide those individuals with an incentive to continue to
work for the best interests of the Company and its shareholders.
NOW, THEREFORE, in consideration of the mutual covenants and conditions
hereinafter set forth and for other good and valuable consideration, the Company
and Director agree as follows:
1. Definitions. To the extent not specifically provided herein, all
capitalized terms used in this Agreement will have the same meanings ascribed to
them in the Plan.
2. Stock Options.
x. Xxxxx of Option. Subject to the conditions specified in the Plan,
the Company hereby grants to Director the right and option (hereinafter referred
to as the "Option") to purchase an aggregate of __________ Shares.
b. Purchase price. The price at which Director will be entitled to
purchase the Stock covered by the Option will be __________ per share.
c. Terms of Option. The Option hereby granted will be in force and
effect and exercisable for a period beginning on the Xxxxx Xxx through and
including the normal close of business of the Company on __________ subject to
earlier termination as provided in the Plan.
d. Option Terms. The Option may be exercised in whole or in part on
such terms and subject to such conditions as are specified in the Plan.
3. Incorporation of Plan. Director understands and agrees that the Plan is
hereby incorporated into this Agreement as if set forth fully herein and this
Agreement is, at all times, subject to the terms and conditions of the Plan.
4. Governing Law. This Agreement shall be interpreted and administered
under the laws of the State of Arizona.
5. Amendments. This Agreement may be amended only by a written agreement
executed by the Company and Director, provided that, the Company may amend this
Agreement without the consent of Director to the extent that such amendment is
required by applicable federal or state securities laws.
IN WITNESS WHEREOF, the Company has caused this Agreement to be duly
executed by its officer thereunto duly authorized, and Director has hereunto set
his (her) hand as of the __ day of _______________, ____.
DATAHAND SYSTEMS, INC.
By
-------------------------------------
Xxxxx X. Xxxx
It's Chairman/CEO
Witnessed By
-----------------------
Xxxx X. Xxxxxxxxx
Corporate Secretary
2
