EXHIBIT 99.2
ADVANCED DIGITAL INFORMATION CORPORATION
XXX X. XXXXXX STOCK OPTION PLAN
NON-QUALIFIED STOCK OPTION AGREEMENT
ADVANCED DIGITAL INFORMATION CORPORATION ("ADIC") grants on 2/25/98, to XXX
X. XXXXXX ("Holder"), an option to purchase 2,000 shares of ADIC's authorized
but unissued common stock without par value at $16.5625 per share pursuant to
the ADVANCED DIGITAL INFORMATION CORPORATION Xxx X. Xxxxxx Stock Option Plan
(the "Plan"), on the following terms and conditions:
FORM OF OPTION
ADIC intends this stock option to be a non-qualified stock option and NOT
an incentive stock option under IRC Section 422. This option is subject to and
will be interpreted in accordance with all terms and conditions of the 1996
Stock Option Plan, as they apply to non-qualified stock options. The Optionee
acknowledges receipt of a copy of the plan, the terms of which are incorporated
by this reference. If any provision of this Agreement conflicts with the Plan,
the Plan will control.
EXERCISE OF OPTIONS
The Option will become exercisable according to the following schedule:
DATE OF OPTION
RIGHT TO OPTION SHARES
--------------- ------
Next Annual Meeting 2,000
To the extent that the right to purchase shares has accrued thereunder, an
Option may be exercised from time to time by written notice to the Company.
TERM OF OPTION
The term of this Option shall be five years from the date of grant.
POST-TERMINATION EXERCISES
In case of termination of the Holder's employment or services other than by
reason of death, disability or Cause, the Option shall be exercisable, to the
extent of the number of shares purchasable by the Holder at the date of such
termination not withstanding any subsequent events, only within three months
after the date of such termination for reasons other than Disability and only
within one year after the date of such termination by reason of Disability, but
in no event later than the remaining term of the Option. Any Option exercisable
at the time of the Holder's death may be exercised, to the extent of the number
of shares purchasable by the Holder at the date of the Holder's death, by the
personal representative of the Holder's estate entitled thereto at any time or
from time to time within one year after the date of death, but in no event later
than the remaining term of the Option.
DATED this 6th day of May, 1998.
ADVANCED DIGITAL INFORMATION OPTIONEE
CORPORATION
_________________________________
_________________________________
By: ____________________________
Its Chairman and Chief Executive Officer _________________________________
Name and Address
ADVANCED DIGITAL INFORMATION CORPORATION
XXX X. XXXXXX STOCK OPTION PLAN
NON-QUALIFIED STOCK OPTION AGREEMENT
ADVANCED DIGITAL INFORMATION CORPORATION ("ADIC") grants on 2/25/98, to XXX
X. XXXXXX ("Holder"), an option to purchase 5,500 shares of ADIC's authorized
but unissued common stock without par value at $16.5625 per share pursuant to
the ADVANCED DIGITAL INFORMATION CORPORATION Xxx X. Xxxxxx Stock Option Plan
(the "Plan"), on the following terms and conditions:
FORM OF OPTION
ADIC intends this stock option to be a non-qualified stock option and NOT
an incentive stock option under IRC Section 422. This option is subject to and
will be interpreted in accordance with all terms and conditions of the 1996
Stock Option Plan, as they apply to non-qualified stock options. The Optionee
acknowledges receipt of a copy of the plan, the terms of which are incorporated
by this reference. If any provision of this Agreement conflicts with the Plan,
the Plan will control.
EXERCISE OF OPTIONS
The Option will become exercisable according to the following schedule:
DATE OF OPTION
RIGHT TO OPTION SHARES
--------------- ------
2/25/99 1,375
2/25/00 1,375
2/25/01 1,375
2/25/02 1,375
To the extent that the right to purchase shares has accrued thereunder, an
Option may be exercised from time to time by written notice to the Company.
TERM OF OPTION
The term of this Option shall be five years from the date of grant.
POST-TERMINATION EXERCISES
In case of termination of the Holder's employment or services other than by
reason of death, disability or Cause, the Option shall be exercisable, to the
extent of the number of shares purchasable by the Holder at the date of such
termination not withstanding any subsequent events, only within three months
after the date of such termination for reasons other than Disability and only
within one year after the date of such termination by reason of Disability, but
in no event later than the remaining term of the Option. Any Option exercisable
at the time of the Holder's death may be exercised, to the extent of the number
of shares purchasable by the Holder at the date of the Holder's death, by the
personal representative of the Holder's estate entitled thereto at any time or
from time to time within one year after the date of death, but in no event later
than the remaining term of the Option.
DATED this 6th day of May, 1998.
ADVANCED DIGITAL INFORMATION OPTIONEE
CORPORATION
_________________________________
_________________________________
By: ____________________________
Its Chairman and Chief Executive Officer _________________________________
Name and Address
